Luno Surpasses 10m Customers In 40 Countries

Luno, the global cryptocurrency platform that aims to put the power of crypto in everyone’s hands on Wednesday announced a 35 per cent growth of its global customer base year-on-year.

The platform also announced that it has surpassed 10 million customers across over 40 countries and has gained an additional one million customers in just six months.

Recall that after soaring to an all-time high market cap of $3 trillion in November 2021, the cryptocurrency market fell to its lowest level in five months in January 2022 amidst regulation concerns and a challenging macro-economic environment.

Despite this, Luno continued to grow and play a key role in the adoption of crypto across the world as the industry proves its resilience, having crossed the $2 trillion mark in March.

The CEO and co-founder of Luno, Marcus Swanepoel, said: “there are an estimated 300 million people using crypto worldwide as of March 2022, a figure that is expected to grow as global markets gain better access to the crypto ecosystem.

“Our mission is to put the power of crypto in everyone’s hands and reaching the major milestone of 10 million customers shows we are leading the way in this transition towards building a better, fairer financial system for the world.”

Africa is one of Luno’s strongest markets, over 55 per cent of the new customers added in the last six months are based on the continent.

Luno’s general manager for Africa, Marius Reitz, said: “we’re thrilled that our customers have helped us achieve this huge milestone. Today’s announcement is testament to the enormous appetite for crypto that still remains on the continent, despite the industry’s challenges over the last year.

“As we move forward, we want to continue equipping our customers in Africa with the confidence and guidelines they need to safely invest in cryptocurrencies.”

As of 12th of March 2022, the average holding time for a Luno user is over seven months, with South Africa, the company’s most active market holding for the longest time at an average of 10 months.

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