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Luno announces expansion, starts accepting Bitcoin Cash

Image: Luno (Twitter)

Wed, 25 Sep 2019, 06:39 am UTC

Luno, formed in 2013, was immediately recognised as the first fully integrated cryptocurrency wallet on the planet. From there, the company developed a platform for different types of cryptos but always stayed true to their values of putting customer trust and safety first. Therefore, decisions will never be took lightly, and the latest hasn’t been either.

After taking on board feedback from customers, Luno has decided expanding their ecosystem further is the right thing to do, and the first new arrival is Bitcoin Cash (BCH). Bitcoin Cash launched just over two years ago in August 2017, and it’s perfect for those who wish to make regular transactions. The BCH community is determined to make everything happen faster and for less, with the long-term goal to compete with the likes of VISA.

From this moment onwards, customers at Luno will be able to store, purchase and sell Bitcoin Cash on the platform. It makes perfect sense too, as some users already had the BCH wallet activated, so it was the natural step to take in this instance. This is in addition to already having a trusted Bitcoin wallet as well as catering to customers who fancy Ethereum. There are plans for further expansion where Luno is concerned too, with more improvements expected imminently.

Commenting on the latest, Marcus Swanepoel, Co-Founder and CEO of Luno, said, “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and application of cryptocurrencies. Luno has been part of this change and has listened to, and always worked hard to understand the needs of these developing economies. It is for this reason we have moved to expand our offering of secure and legitimate digital currencies to individuals, enabling cross-functional accessibility and transfer of funds.”

Moving forward, Luno will continue to welcome new cryptos to their platform, which is now made up of around three million users worldwide. However, safety, UX and functionality will continue to come first, especially as this approach has served them so well in their six years of operation. Any new coins added to the platform will have been monitored by the company for several years, having the credibility to make it onto what is one of the world’s leading cryptocurrency exchanges.

It’s been a great twelve months for Luno, as their user base has increased by a million users according to reports. With customers spread across forty countries, Luno now has headquarters in South Africa, Indonesia, Nigeria, Singapore and Malaysia, with over 300 employees on the payroll. If things continue in the same manner, these figures will likely increase over the next year, with the brand growing in prominence by the day.

Marius Reitz, General Manager Africa for Luno, had this to say on expansion, “There are over 2,000 cryptocurrencies in the market and we take our role as a trusted platform very seriously. We are therefore very cautious about new coins. We only add new coins once we are confident of their security, credibility, and market traction.”

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