Luno Cuts 20% of Global Staff in Restructuring Effort

Luno, a Digital Currency Group-owned crypto exchange, has laid off about 20% of its global staff in a restructuring effort led by CEO James Lanigan. The move is designed to trim costs and reposition the business around institutional clients rather than retail traders.

This marks the second major layoff at Luno within two years, with the company having previously cut 35% of its staff in January 2023 during the broader crypto winter. However, this time around, Lanigan is pushing the company toward business-to-business services and institutional product offerings.

The stablecoin infrastructure appears to be a central piece of Luno's strategy, with Lanigan having warned in June 2026 that proposed South African regulations on capital flows could effectively cut local companies off from what he projected to be a $33 trillion global stablecoin market.