Luno Cuts 20% of Global Staff as CEO Lanigan Shifts Focus to Institutional Services

Luno, the cryptocurrency exchange owned by Digital Currency Group (DCG), is undergoing significant restructuring under new CEO James Lanigan. The company has laid off approximately 20% of its global workforce as part of a cost-cutting measure to position itself for long-term success.

This move comes just two and a half years after Luno reduced its staff by 35% in January 2023, during the broader crypto winter. Lanigan is now steering the company towards business-to-business (B2B) services and institutional product offerings, shifting focus away from retail traders.

The stablecoin infrastructure appears to be a central piece of this strategy, with CEO James Lanigan warning in June 2026 that proposed South African regulations could effectively cut local companies off from what he projected to be a $33 trillion global stablecoin market. Luno's parent company, DCG, has been methodically stabilizing its portfolio companies since the implosion of its lending subsidiary Genesis in 2023.