Luno is a UK cryptocurrency exchange. It is one of the biggest players in this sector in Africa. Recently, it released information that speaks volumes about the adoption of bitcoin and other currencies in Africa. In just three months, Luno gained a million additional customers.

The service now has more than 8 million users. The announcement follows on from April 2021 where it revealed it reached 7 million customers in just 7 weeks, a success that the company created by Marcus Swanepoel and Timothy Stranex owes mainly to Africa. Indeed, more than 50% of its users come from the continent.

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Commenting on this milestone, Marius Retz, Managing Director of Luno Africa, said: 

“Within five years of launching the business, Luno had built a customer base of one million by November 2017. Less than a year later we had five million. The speed at which we are reaching new milestones is remarkable — it took just nine months to add three million more portfolios.”

Luno Africa Luno Africa

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write