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Luno's US owner is in a mess. Where does that leave its SA clients? | Business

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Luno's parent company Digital Currency Group is currently grappling with the bankruptcy of its Genesis business, which was filed last week. | News24_Business

As pressure mounts on its US owner, South Africa’s largest cryptocurrency exchange, Luno, is playing down concerns about its own future.

Luno is owned by Digital Currency Group that was started by former investment banker and early bitcoin investor Barry Silbert. DCG owns more than 200 crypto-related companies, including Genesis Global Capital, which is one of the largest lenders of cryptocurrencies in the world. Genesis filed for bankruptcy last week in New York.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

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