Luno Eliminates 20% of Global Workforce as Automation Changes Crypto Exchange Priorities

Second Wave of Layoffs

Cryptocurrency speech Luno is cutting 20% of its planetary workforce and reorganizing its operations into 3 chiseled units amid a downturn successful retail trading and an increased displacement toward automation, CEO James Lanigan announced July 28. The company, however, did not disclose the full fig of employees affected by the layoffs.

South African workers are among those being fto go, though circumstantial determination numbers were not confirmed. Luno, which is headquartered successful London and operates crossed Africa and Asia, is owned by the U.S.-based Digital Currency Group.

“This was a precise hard decision, and we did not instrumentality it lightly,” Lanigan said successful a statement. “We person unthinkable radical crossed this organization, and saying goodbye to colleagues who person contributed truthful overmuch is hard. But it is simply a determination we’ve had to marque — for our customers, our remaining squad and our semipermanent ngo — which is to physique a operation that is sustainable and focused.”

The retrenchments people the 2nd large circular of occupation cuts astatine the level successful 3 and a fractional years. In January 2023, during a terrible contraction successful the integer plus market, Luno eliminated 35% of its workforce, which past numbered astir 960 employees.

In South Africa, wherever Luno was primitively founded successful 2013, the institution has initiated ceremonial consultations with affected unit arsenic required nether Section 189 of the country’s Labour Relations Act.

Company officials cited a cyclical slump successful retail crypto enactment and ongoing investments successful automated tools arsenic the superior drivers down the restructuring. Luno stated that integrating automated systems has fundamentally altered its assets requirements, making a leaner operational operation necessary.

Alongside the headcount reduction, Luno is restructuring its operational layout into 3 unified divisions built connected a azygous halfway platform. Firstly, it is combining its user platform—which serves implicit 16 cardinal users crossed Africa and the Asia-Pacific region—with a business-to-business API integration. The work allows organization partners to connection white-labeled crypto trading, custody, and compliance utilizing Luno’s backend infrastructure.

The 2nd portion focuses connected local-currency stablecoin solutions successful emerging markets. The portion centers connected Zaru, a rand-backed stablecoin launched successful February 2026 designed to alteration 24/7 same-day colony astatine debased costs. The 3rd portion is an organization limb offering an over-the-counter table for high-volume plus conversions and cross-border currency colony networks.

According to reports, the latest restructuring follows a caller contraction successful Luno’s planetary footprint. The level has notified users successful prime markets that services volition cease effectual Sept. 1, 2026. Account deposits and purchasing features were disabled connected June 1, with customers fixed until Aug. 31 to liquidate holdings and retreat funds to section slope accounts.