Luno Cuts 20% of Workforce, Pivots to B2B After Crypto Slump

The restructuring frees up resources for Luno's B2B services unit. The exchange is already making its infrastructure available to institutional partners such as Discovery Bank, a Johannesburg-based lender, enabling banks and fintechs to offer crypto products under their own brands. Luno provides liquidity and compliance support in those arrangements.

Luno also plans to expand issuance of non-USD stablecoins in emerging markets. It is part of the founding group behind ZARU, a digital asset backed by the South African rand and supported by Sanlam and Lesaka Technologies. The company said the infrastructure model tested with ZARU will be replicated in other developing economies where local-currency stablecoins are scarce. Luno's institutional settlement service aims to cut costs in cross-border transfers using blockchain, according to project documentation.

The pivot to institutional services mirrors a broader industry trend. Several trading platforms have diversified into infrastructure and payments to offset weak retail activity. Luno expects to announce new B2B partnerships in the coming quarters, the company said.