Luno, one of the leading crypto exchanges on the African continent, has announced that it reached momentous year-on-year growth across the African continent.
In a press release to BitKE, Luno said it has experienced impressive growth across its trading volumes, app installs, and customer base in Africa.
Below are the latest stats from the Luno report:
- Luno how has 7 million customers worldwide just 7 weeks after passing 6 million customers
- Luno added almost 1 million South African customers in 2020 and over 250, 000 so far in 2021
- January 2021 alone, Luno saw 60% increase in the number of app installs compared to December 2020 and 300% YoY
- Luno’s customer base in Africa grew by 2.3 million to 4.7 million between January 2020 – January 2021
- Luno app installs across Africa surged by 271% between January 2020 – January 2021
- Luno trading volumes in Africa grew 12x from $555 million to $8.3 billion between January 2020 – January 2021
- In 2020 alone, Luno provided 1.1 million Asians access to the crypto markets, growing its Asian customer base by 300,000
- Luno app installs grew by 119% between September 2020 – January 2021
- The number of active users on Luno increased by 167% between September 2020 – January 2021
- As of February 2021, the average Luno user wallet held over $7, 000 – 56% more from December 2020
- Luno was ranked in the top 6 crypto exchanges worldwide by the latest CryptoCompare Exchange Benchmark and given the top tier AA rating
- Luno has seen over 10% growth in staff numbers since March 2020 with nearly 400 employees across its offices in South Africa, Nigeria, London, Singapore, Malaysia, and Singapore
The beginning of 2021 marks the start of a period of exponential growth for Luno. This growth is in part down to:
- The simplicity of its online and mobile platforms
- Offering education
- Bank-grade security and self-regulation
- A proactive stance of working with governments, regulators, and banks to safely increase access to cryptocurrencies around the globe
This growth can also be partly attributed to the huge growth in interest surrounding cryptocurrencies in 2021 with the likes of Tesla investing in Bitcoin, US Bank BNY Mellon setting up a Crypto Unit, and Mastercard accepting crypto payments.
Speaking about these milestones, Marcus Swanepoel, CEO, Luno, said:
“The past twelve months has hastened the adoption of crypto globally. While a lot of the press has been around institutional adoption, behind all the headlines retail adoption has been growing at an arguably even more fanatic pace (With Tesla just announcing they will start accepting Bitcoin as payment).
The pandemic has exacerbated the need for digital currencies, and here at Luno, our mission is not only to help educate people about cryptocurrencies and how to use them today, but in the long run leverage the power of this technology to upgrade the world to a better financial system.
We want to make cryptocurrencies accessible in a secure and compliant way to everyone, regardless of who they are or where they are located. In 2021, we expect to continue this exponential growth, on track to reaching our goal of 1 billion customers by 2030.“
– CEO, Luno
Commenting on Luno’s phenomenal growth in the past year, Barry Silbert, CEO, Digital Currency Group, the company that acquired Luno in September 2020:
“Luno has seen phenomenal growth over the past 12 months and is one of the fastest-growing companies in the DCG family.
We are proud to be part of this success and will continue to make significant investments to support Luno’s commitment to drive global economic and social change through the transformation of traditional financial services.”
– CEO, Digital Currency Group
RECOMMENDED READING: South African Exchange, Luno, Lists the USDC as the First Stablecoin on the Platform
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