Luno Cuts Up to 20% of Staff Amid Market Shift

Crypto exchange Luno is undergoing restructuring to adapt to current market conditions. As part of this process, up to 20% of its staff will be cut.

The company's CEO, James Lanigan, stated that the goal is to reduce operating costs while expanding services for institutional clients.

Luno has invested in automation and operational improvements, leading to a need for a more flexible structure. The company plans to strengthen its organizational structure and scale up compliance and product initiatives.

The exchange aims to expand stablecoin payments in developing countries through partnerships like the ZARU project, a stablecoin pegged to the South African rand.