Bitcoin exchange company BitX rebrands to Luno, launches new products


SA Bitcoin exchange company BitX, has announced it’s rebranding to Luno. Along with the announcement, the company is launching a number of new products.

“We believe that decentralised digital currencies like Bitcoin will fundamentally change how the world views and uses money,” said the CEO of Luno (previously BitX), Marcus Swanepoel, in a press release to Ventureburn.

“Cheaper, faster and safer transactions; more privacy and financial freedom; a significantly better user experience; and ultimately, more equality by giving everyone in the world access to the same financial system.

“Our new brand and product offerings are better aligned with this vision and will help drive our mission of bringing Bitcoin to everyone, everywhere,” added Swanepoel.

BitX makes a radical change to their new brand, Luno, as they expand to new territories while launching new products

Luno will also be launching a new web-app as well as new versions of the BitX Android and iOS apps.

The company has announced it will be beta testing the ability to purchase Bitcoin from anywhere in the world using credit or cards.

Read more: Uncovered: Ventureburn lists South Africa’s fintech ecosystem

In order to inform customers about non-technical information with regards to digital currencies, Luno will also launch a learning portal.

Along with the rebrand and launch of new products, Luno has also set up offices in London and will be building their presence in the UK over the next year. This falls in line with its global strategy to become the world’s premier digital currency brand.

Luno’s Fast and Low-Cost Offsetting Network (FALCON) protocol has been selected to participate in the testing of UK’s Financial Conduct Authority’s Regulatory Sandbox. The protocol will be used to test existing licenced remittance businesses in using Bitcoin to move and convert Pound Sterling into other currencies.

In 2015, BitX raised US$4-million from Naspers, raised an undisclosed round of funding from Southeast Asia-focused venture fund Venturra Capital, and allowed customers to purchase airtime with Bitcoin.



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