1. Hanno Labuschagne

    One big thing that impacts crypto trading in South Africa

    One big thing that impacts crypto trading in South Africa Cryptocurrency trading activity in South Africa is heavily influenced by whether the price of Bitcoin is going up. This is according to three major local crypto exchange providers — VALR, Luno, and Altify.
  2. Jan

    VALR and Luno announce Pick n Pay bitcoin payment support via CryptoConvert

    Pick n Pay gets easier Bitcoin payments with VALR and Luno VALR and Luno have partnered with CryptoConvert to support Bitcoin payments from their apps at all Pick n Pay tills around South Africa. This comes after CryptoConvert announced in February that its CryptoQR platform was active at all...
  3. Jan

    Luno launches Ethereum staking service in South Africa

    Luno launches Ethereum staking — earn rewards for helping secure the network South African-born cryptocurrency exchange and wallet provider Luno has launched Ethereum staking. “Luno’s staking feature will initially launch in South Africa with support for [Ethereum],” said Luno South Africa...
  4. Jan

    Luno announces new CEO, hires Canaccord Genuity Group to raise funding and prepare for public listing

    Luno appoints new CEO as it seeks funding and prepares for "eventual” listing Luno co-founder Marcus Swanepoel (pictured) has stepped aside as CEO to become the company’s executive chairman. Chief operating officer James Lanigan, who has been with the company for five years, is the new chief...
  5. Jan

    South African cryptocurrency exchange roundup - March 2023

    Top cryptocurrency exchanges in South Africa South Africans looking to invest in or trade cryptocurrency will find plenty of well-established crypto exchanges at their disposal. Despite what detractors say, Bitcoin and several other major coins have seen their values increase substantially...
  6. Jan

    Luno co-founder and CTO Timothy Stranex resigned, left in December

    Luno co-founder and CTO resigns Luno cofounder and chief technology officer Timothy Stranex has resigned, the company has confirmed. Stranex’s last day was in December after handing over to Luno’s former VP of Engineering, Simon Ince.
  7. Jan

    Luno laying off 35% of staff

    Luno retrenching 35% of staff Luno has informed staff that it is retrenching 35% of its global workforce. “2022 has been an incredibly tough year for the broader tech industry, and in particular the crypto market,” Luno CEO Marcus Swanepoel wrote in a message to employees on Wednesday.
  8. Jan

    ARB adds cryptocurrency rules to South Africa's advertising code

    Cryptocurrency rules added to South Africa's advertising code The Advertising Regulatory Board (ARB) has added a clause that deals with cryptocurrency products to its Code of Advertising Practice. It said the new rules aim to protect consumers from being misled by unethical advertisers.
  9. Jan

    Luno responds: What happens if Digital Currency Group declares bankruptcy?

    Luno's sister company declares bankruptcy — what it means for South Africans With threats of a lawsuit against parent company Digital Currency Group (DCG) and sister company and lending partner Genesis Global filing for bankruptcy, Luno has assured that it remains unaffected. Luno is a South...
  10. Jan

    Luno discontinuing Savings Wallets tomorrow (1 December 2022)

    Luno kills off Savings Wallet Cryptocurrency exchange and custodial service provider Luno will discontinue its Savings Wallet functionality from tomorrow — 1 December 2022. “Cryptocurrency held in a Savings Wallet will be transferred to primary wallets, and will continue to be stored safely...
  11. Jan

    Genesis Global Capital, Luno's lending partner for Savings Wallet yield, has halted withdrawals

    Luno Savings Wallet partner halts withdrawals Luno’s lending partner for its Savings Wallet product, Genesis Global Capital, has temporarily suspended redemptions and new loan originations. All cryptocurrency withdrawals on Luno remained available at the time of publication.
  12. Jan

    The Ballad of FTX and Binance

    High drama as two crypto titans clash — what it means for Ovex, VALR, Luno in South Africa In the cryptocurrency world, it’s called whale games. When two or more large players — “crypto whales” — try to outmanoeuvre each other, the collateral damage doesn’t seem to be a consideration. All that...
  13. Jan

    FSCA declares crypto assets a financial product

    South Africa declares cryptocurrency a financial product Crypto assets are to be treated as financial products in South Africa to make it easier for regulators to monitor the market and help to safeguard consumers. The Financial Sector Conduct Authority (FSCA) defined crypto assets as "a...
  14. Jan

    Luno appoints Christo de Wit as South African country manager

    Luno appoints new country manager for South Africa Cryptocurrency investment company Luno has appointed Christo de Wit as its country manager for South Africa. De Wit takes over the role from Marius Reitz, who served as both general manager for Africa and country manager.
  15. Jan

    Prudential Authority says SA banks refusing to work with crypto service providers is a bad idea

    South Africa's central bank makes huge announcement about cryptocurrency exchanges The South African Reserve Bank’s Prudential Authority has issued a guidance note to banks discouraging them from cutting off companies that offer cryptocurrency services. In a note signed by Prudential Authority...
  16. Jan

    Luno assures that Saving account deposits are safe - Genesis well-hedged

    Luno assures Bitcoin savings accounts safe as lending partner faces massive losses Cryptocurrency wallet and trading platform Luno has assured that deposits in its interest-bearing savings accounts are safe and that its lending partner is well hedged. This follows a CoinDesk report that Luno’s...
  17. Hanno Labuschagne

    South Africans buying cryptocurrency by the loads

    South Africans buying cryptocurrency by the loads While Bitcoin’s slump and bearish price action have caused a drop-off in South Africans buying cryptocurrency, the surge in users and trading volumes during the past year was astronomical. “We’ve seen a slight slow down in growth in Q1 2022...
  18. Jan

    Luno reduces target interest rates on bitcoin and ether savings accounts

    Luno cuts Bitcoin interest rates Luno has informed clients that it will reduce its target interest rate for savings account customers to 1.5% per year on bitcoin and 2% on ether. Its target interest rate on the USDC stablecoin remains 7.6% per annum.
  19. Jan

    Luno and Revix on what to expect from the cryptocurrency sector in South Africa in 2022

    What to expect from cryptocurrency in 2022— including new regulations in South Africa The cryptocurrency market had a turbulent year in 2021 and financial markets, in general, had a rough start in 2022, but exchange and wallet provider Luno believes the crypto market will keep its upward...
  20. Jan

    Luno eyeing US expansion

    South Africa's biggest Bitcoin exchange working on US expansion Africa’s largest cryptocurrency exchange is looking for a foothold in the U.S., the latest international platform to try and tap one of the world’s biggest populations of digital-asset investors. Owned by conglomerate Digital...