Summary
- Cryptocurrency exchange Luno is cutting about 20% of its global workforce as weaker retail trading and automation reshape the exchange.
- The firm’s CEO said investments in automation and other operational improvements over the past year had changed the resources needed to run the business.
- The DCG-owned company previously cut 35% of staff in January 2023 citing tough market conditions.
Cryptocurrency exchange Luno is cutting about 20% of its global workforce as weaker retail trading and automation push the company toward a leaner structure and more institutional business, according to a report by Bloomberg on Thursday.
The firm’s CEO James Lanigan confirmed the cuts to Bloomberg but declined to disclose the number of employees affected. Lanigan said investments in automation and other operational improvements over the past year had changed the resources needed to run the business.
Luno will continue investing in its retail products, infrastructure and regulatory compliance while expanding its business-to-business offering.
The layoffs are Luno’s second major workforce reduction in three and a half years. The exchange cut 35% of its staff in January 2023 citing an “incredibly tough year” affecting the market.
Luno’s new structure combines its 16 million-user retail exchange with a white-label service allowing banks, fintechs and telecommunications companies to offer crypto products through their own brands. Luno supplies the liquidity, wallets and compliance infrastructure.
The weaker retail trading business reflects the broader picture across the crypto industry, which has seen exchanges BitMEX and BitMart wind down their operations.
South Africa’s Discovery Bank began offering access to more than 50 cryptocurrencies through Luno in December 2025, providing the model for that business. The bank announced the integration the previous month.
The restructuring follows Luno’s decision to stop serving customers in some markets from Sept. 1 and concentrate on Africa and Southeast Asia. Digital Currency Group acquired the exchange in 2020.
CoinDesk has reached out to Luno for comment but hadn’t heard back at the time of writing.
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Anvil: The Missing Collateral Layer
Anvil: The Missing Collateral Layer
Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.
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Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.
Why it matters:
Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.
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