Luno Plans Global Layoffs of About 20%, Will Expand Institutional Business

Odaily reported that Digital Currency Group's cryptocurrency exchange Luno plans to cut around 20% of its global workforce as part of a business restructuring and cost-control initiative. Luno CEO James Lanigan stated that the company will expand its B2B operations and continue investing in institutional clients, core infrastructure, compliance, and retail products. Luno currently serves approximately 16 million users in Africa and the Asia-Pacific region. It is opening up its liquidity, wallet, and compliance capabilities to banks, fintech companies, and telecom firms, enabling partners to offer crypto services under their own brands. The company also plans to advance non-USD stablecoin infrastructure in emerging markets.