• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin security

    Bitcoin Security: MIT’s long term project backed by crypto authorities

    Litecoin price

    Litecoin price prediction: LTC to fall to $150 support level

    Elon Musk

    Elon Musk under investigation for Dogecoin tweet

    Cardano price

    Cardano price prediction: ADA to challenge $1.20 resistance again

    Coinbase

    Coinbase pre-IPO shares appreciate following S-1 filing with the SEC

    Ethereum price

    Ethereum price recovers to $1,650, what next for ETH?

    US exchange, Coinbase files with SEC to go public through direct listing

    US exchange, Coinbase files with SEC to go public through direct listing

    How ethbox Could be the Ultimate Way to Send Cryptocurrency Privately 1

    How ethbox Could be the Ultimate Way to Send Cryptocurrency Privately

    Defi

    DeFi products get a boost as Chainlink launches OCR

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin security

    Bitcoin Security: MIT’s long term project backed by crypto authorities

    Litecoin price

    Litecoin price prediction: LTC to fall to $150 support level

    Elon Musk

    Elon Musk under investigation for Dogecoin tweet

    Cardano price

    Cardano price prediction: ADA to challenge $1.20 resistance again

    Coinbase

    Coinbase pre-IPO shares appreciate following S-1 filing with the SEC

    Ethereum price

    Ethereum price recovers to $1,650, what next for ETH?

    US exchange, Coinbase files with SEC to go public through direct listing

    US exchange, Coinbase files with SEC to go public through direct listing

    How ethbox Could be the Ultimate Way to Send Cryptocurrency Privately 2

    How ethbox Could be the Ultimate Way to Send Cryptocurrency Privately

    Defi

    DeFi products get a boost as Chainlink launches OCR

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Exchange News

Luno exchange becomes DCG first retail-focused subsidiary

Ibiam Wayas by Ibiam Wayas
September 9, 2020
in Exchange News
2 min read
Kenanga acquires stake in Malaysia's second-largest crypto exchange
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

One of the big-name blockchain investment companies, Digital Currency Group (DCG) has acquired Luno exchange. The development strengthens the company’s first move into retail-focused cryptocurrency businesses, as it mostly deals with institutional-grade businesses. Meanwhile, DCG may no longer make additional acquisitions at the parent company level, anytime soon.

Luno exchange becomes a subsidiary of DCG

The acquisition of Luno exchange by DCG was confirmed in a Coindesk report on Wednesday, despite the financial terms not being revealed at the time. Although as a wholly-owned subsidiary of the investment group, the exchange will continue to operate independently, serving retail cryptocurrency investors and traders, as both companies noted. 

Meanwhile, DCG will not be announcing any new acquisition at the parent company level as often as before, according to Mark Murphy, the chief operating officer at DCG. He noted:

RelatedPosts

Coinbase pre-IPO shares appreciate following S-1 filing with the SEC

US exchange, Coinbase files with SEC to go public through direct listing

Coinbase decentralization claims leave customers furious

PDAX exchange glitch allows user to buy Bitcoin for $6,000

“But Luno intends to expand globally both organically and through acquisitions. We view this deal as a potential first step towards a ‘roll up’ strategy under Luno.”

DCG’s first retail business subsidiary

Notably, Luno exchange has become the first crypto business to be fully owned by the Digital Currency Group, with a major focus on retail customers. Commenting on this, Murphy added that: 

“We have invested in many retail businesses all over the world – including nearly two dozen exchanges. But this is the first subsidiary that is a wallet and an exchange, which of course have large numbers of retail investors.” 

Luno was established in 2013, and it has grown to become one of the leading digital currency exchanges in Africa, including South East Asia. Noteworthily, DCG was one of the companies that invested in the exchange during its early stage, precisely in 2014. The exchange now boasts of working with 400 staff and 5 million users from more than 40 countries.

Tags: Africa Blockchaincryptomarket
Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

Related Posts

Coinbase
Exchange News

Coinbase pre-IPO shares appreciate following S-1 filing with the SEC

February 25, 2021
US exchange, Coinbase files with SEC to go public through direct listing
Exchange News

US exchange, Coinbase files with SEC to go public through direct listing

February 25, 2021
Coinbase
Exchange News

Coinbase decentralization claims leave customers furious

February 25, 2021

Follow Us

  • 40.9k Fans
  • 8.3k Followers

Latest News

Bitcoin security

Bitcoin Security: MIT’s long term project backed by crypto authorities

February 26, 2021
Litecoin price

Litecoin price prediction: LTC to fall to $150 support level

February 26, 2021
Elon Musk

Elon Musk under investigation for Dogecoin tweet

February 25, 2021
Cardano price

Cardano price prediction: ADA to challenge $1.20 resistance again

February 25, 2021
Coinbase

Coinbase pre-IPO shares appreciate following S-1 filing with the SEC

February 25, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 3

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.