Digital Currency Group acquires cryptocurrency exchange Luno

Digital Currency Group (DCG) has acquired cryptocurrency exchange Luno, in which it first invested in 2014. Luno, which has over 5 million users across 40 countries, will continue to operate independently but will receive a "significant commitment" from DCG to fund global expansion. The deal, with undisclosed financial terms, aims to accelerate Luno's goal of upgrading 1 billion people to a new financial system by 2030.

DCG acquisition of Luno

• ▪DCG first invested in Luno during the exchange's seed round in 2014.
• ▪The financial terms of the acquisition deal were not revealed.
• ▪Digital Currency Group (DCG) has acquired the British multinational cryptocurrency exchange Luno.

Luno's market presence

• ▪Luno operates in 40 countries and has more than five million registered users.
• ▪Luno's CEO Marcus Swanepoel said the acquisition comes at a "pivotal moment" for the industry.

Post-acquisition strategy

• ▪The acquisition aims to accelerate Luno's goal of upgrading 1 billion people to a better financial system by 2030.
• ▪DCG will make a "significant commitment" to help Luno expand its global operations.
• ▪Luno will continue to operate as an independent organization under its current CEO.

DCG's investment portfolio

• ▪Grayscale Investments' total Bitcoin holdings recently passed $3 billion.
• ▪Digital Currency Group, based in New York, backs more than 160 companies in 35 countries.
• ▪DCG fully owns Grayscale Investments, the world's largest digital asset management company.

1 source