Luno, the leading South African exchange, and one of the fastest growing in Africa, now has over 9 million customers in over 40 countries.
In just 4 months, Luno has added one million new customers with over 30% of the customer base coming from South Africa.
At the same time, Luno’s staff is now over 600 spread across various markets that include:
- Australia
- Indonesia
- Malaysia
- Nigeria
- Singapore
- South Africa
- UK
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Speaking about this monumental growth, Marius Reitz, General Manager, Luno, Africa, said:
“The average value of first deposits made by our million new customers is around R550 (USD37). Most new customers (67%) bought Bitcoin, while 43% bought Ripple and 20% bought Ethereum. Of the new customers, 37% are aged between 18 and 24, and gender splits align with trends in financial services – almost three quarters (71%) are male.”
– General Manager, Luno, Africa
Below is a timeline of Luno’s impressive growth stats:
- 2013 – Luno founded
- 2017 – Hits 1 million users
- 2020 – Added 3.6 million users
- May 2020 – Hits 4 million users
- August 2020 – Hits over 5 million users
- March 2021 – Hits 7 million users
- June 2021 – Hits 8 million users
- October 2021 – Hits 9 million users
Luno’s quarterly growth is nothing short of exponential, and highlights the demand for cryptocurrency within the regions they are established.
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RECOMMENDED READING: Luno, Africa’s Leading Crypto Exchange, Partners with Notabene to Enable Regulatory Compliance
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