Digital Currency Group acquires crypto exchange Luno for an undisclosed sum

Digital Currency Group (DCG) has acquired cryptocurrency exchange Luno for an undisclosed sum.

In a release shared with The Block on Wednesday, DCG said London-based Luno has grown “significantly” in recent years, and the acquisition will help them further expand globally. DCG is set to make a “significant financial commitment” to Luno.

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Luno will continue to operate as an independent, wholly-owned subsidiary of DCG. With today’s deal, DCG now operates five subsidiaries, including recently-launched Foundry, Grayscale Investments, Genesis, and CoinDesk.

DCG first invested in Luno in its seed round in 2014. Founded in 2013, Luno has grown to nearly 400 employees and more than five million customers spanning over 40 countries, per the release. “Luno is a high growth, global business and there is a massive opportunity to expand organically and through acquisitions,” said DCG founder and CEO Barry Silbert.

Luno co-founder and CEO Marcus Swanepoel said the full backing of DCG would “significantly accelerate our ability to reach our goal to help upgrade 1 billion people to a better financial system by 2030.”

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.