The cryptocurrency exchange Luno is undergoing significant changes, with the CEO James Lanigan confirming to Bloomberg that the company is cutting 20% of its global workforce. This decision builds on previous job losses in January 2023 when the firm reduced staff by 35%, citing the challenges posed by a difficult market climate.
Lanigan highlighted that the past year has seen substantial progress in adopting automation and refining operational processes, which have reshaped the number of resources required to run the business. However, he did not provide exact figures on how many employees are being affected by the current round of layoffs.
Retail trading weakens; institutional opportunities grow
The decline in retail trading activity at Luno mirrors a broader challenge in the cryptocurrency industry. Major exchanges like BitMEX and BitMart have closed their operations in recent times, signaling a shift away from individual traders. In response, Luno is pivoting toward institutional clients and has developed white-label solutions for banks and fintech companies.
Despite these changes, the firm plans to continue enhancing its retail offerings, infrastructure, and regulatory compliance. It is also expanding into business-to-business services. A key component of this strategy is a white-label model that allows partner firms to provide crypto products under their own brand names. Luno handles the liquidity, wallet infrastructure, and compliance requirements for these partners.
Geographic concentration in Africa and Southeast Asia
Luno is refocusing its efforts on Africa and Southeast Asia, ceasing operations in several markets starting September 1. This shift aligns with a growing interest in these regions. For example, South Africa’s Discovery Bank has already partnered with Luno to offer access to over 50 cryptocurrencies as of December 2025.
This partnership was announced the month before, showcasing how Luno’s white-label model is gaining traction. The company was acquired by Digital Currency Group in 2020. CoinDesk reached out to Luno for additional comments, but no response had been received at the time of publication.
Balancing efficiency and flexibility in a volatile market
While automation can streamline operations, it also introduces risks in terms of adaptability. The crypto market is known for its rapid changes, and a reduced workforce might limit a company’s ability to respond to new trends. At the same time, weak retail adoption continues to impact user growth and consumer confidence in the platform.
Luno’s restructuring reflects a broader industry trend as companies adapt to evolving market demands. The move toward automation, institutional clients, and regional focus may help the firm remain competitive as it navigates these challenges.