Luno cuts 20% of staff, citing weaker retail trading and automation

Luno will continue investing in its retail products and compliance infrastructure while expanding its business-to-business offering. The exchange has 16 million users. Its new structure combines the retail exchange with a white-label service that lets banks and fintechs offer crypto products under their own brands. Luno supplies the liquidity and compliance infrastructure.

The weaker retail trading business reflects a broader trend across the crypto industry, where exchanges BitMEX and BitMart have wound down operations, Bloomberg reported. Luno's restructuring follows a decision to stop serving customers in some markets from Sept. 1 and concentrate on Africa and Southeast Asia.

South Africa's Discovery Bank began offering access to more than 50 cryptocurrencies through Luno in December 2025, providing a model for the white-label business. The bank announced the integration the previous month. Digital Currency Group acquired Luno in 2020.