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African crypto usage spurs Luno as customers reach 7M

The crypto industry as a whole has seen a momentous year of growth, heavily spurred on by the entrance of institutional investors adopting bitcoin due to its store of value properties . The 2020 spike bitcoin experienced was also accelerated by its global adoption as the number of global cryptocurrency users surpassed 100 million in Q3 2020 . For Luno , a U.K.-based crypto company founded by Marcus Swanepoel and Timothy Stranex in 2013, it grew to 6 million customers from January 2020 to January 2021 . However, that number has since gone up to 7 million. Today the company, headquartered in London, has nearly 400 employees across London, South Africa, Malaysia, Indonesia, Nigeria and Singapore, with customers in 40 countries globally . According to CEO Swanepoel, Luno’s numbers have been increasing month-on-month over the last seven years . However , this is the first time it is observing an acceleration of this magnitude. There are a couple of reasons for Luno’s surg...

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