Cryptocurrency exchange and wallet provider Luno expects to launch its service in more countries, CTO Timothy Stranex has told MyBroadband.
“Luno operates in more than 40 countries spread across three continents, and we are always looking for new countries to launch our product in – as long as our customers demand it,” said Stranex.
The company offers support for buying and selling Bitcoin and Ethereum with rand, and also lets users transfer money in and out of Luno using a South African bank account.
Stranex explained that Luno’s ongoing country rollouts involve customised, localised on-boarding and identity verification, as well as a further rollout of its learning portal.
“As Luno expands the team globally, the company will be rolling out more deposit methods and country localisation.”
According to Stranex, Luno has historically been the largest and most established exchange in emerging markets.
This is partly because it is difficult for other companies to build reliable verification and funding mechanisms. It is also difficult to secure the right partnerships in these markets.
Interestingly, Luno is seeing its fastest growth not from emerging markets, but from Europe – it’s most recent addition – albeit from a lower base.
“Luno’s expansion across Europe offers access to the Luno app for retail customers from all European countries,” said Stranex.
From the app, clients can fund their accounts, in Euro, and buy bitcoin.
“There are not a lot of companies that offer these kind of services in Europe – certainly not in a very mass-market, user-friendly way, and particularly with a really good mobile product coupled with good customer service,” said Stranex.