SA crypto startup ranks sixth globally 

South African cryptocurrency startup Luno has earned a ranking in the top six cryptocurrency exchanges globally as revealed in the latest CryptoCompare Exchange Benchmark.

Luno ranks 6th globally and secures one million new users in seven weeks

This milestone follows the startup’s achievement of gaining a million new users in a mere seven-week period. 

Luno has attributed its most recent success in user growth to the ‘simplicity’ of its online and mobile platforms that offer education, bank-grade security, and self-regulation. 

The crypto startup is continuously and actively working with regulators and banks to safely increase access to cryptocurrencies. 

In a press statement, Luno explains that this year there is a far greater interest and active participation in cryptocurrency.

“Bitcoin’s strong rally in 2021 has fuelled greater interest in cryptocurrencies, which has translated into greater customer activity and many new app installs. New Luno customers learn about and buy cryptocurrencies every day. Volumes traded on Luno this year far exceed those recorded in 2020.”

Luno

Founded in 2013 by South African duo, Marcus Swanepoel, a former investment banker, and Timothy Stranex, a previous software engineer for tech giant, Google. 

With headquarters in London, the startup has grown tremendously since its inception with more than 400 employees in offices located in South Africa, Malaysia, Indonesia, Nigeria, and Singapore. 

“South Africa is one of Luno’s strongest markets and appetite for cryptocurrency trades continues to grow. Reaching seven million wallets demonstrates the growing adoption of cryptocurrencies across the globe,” concludes Luno.

Read more: Luno crypto platform adds US dollar stablecoin
Read more: SA crypto exchange predictions for 2021

Featured image:  Marcus Swanepoel, co-founder and CEO of Luno (Supplied)