LUNO (formerly BitX) is a cryptocurrency exchange headquartered in London Luno facilitates bitcoin and cryptocurrency storage and transactions such as buying, selling and paying through their wallet services. They also operate exchanges between traditional currencies and bitcoin.
Luno was founded in 2013 and the exchange was set up by Timothy Stranex and Marcus Swanepoel, who are CTO and CEO respectively. Stranex is a BSc graduate from the University of Cape Town. He began his career as a software engineer at Google in Switzerland. He worked on Google Maps during his four years at the company, while also completing an MSc in theoretical physics from the University of Zürich.
Luno and PayFast facilitated one of the first crypto-currency integrations into a payment processor in the world.In 2016, Luno took part in the FCA Sandbox program. This allows businesses to test financial products with regulatory supervision.
In September 2017, Luno raised $9 million in order to introduce its bitcoin wallet, exchange and services in Europe.Since November 2017, Luno has also supported Ethereum.
At the start of 2018, Luno announced they had reached nearly 2 million customers and processed over $5 billion. In May of 2020, they announced that this had reached 4 million customers. They are pro-regulation.In April 2018, Luno registered with the bank Negara Malaysia as a reporting body for the digital currencies.
In March 2020, Luno added XRP to their exchange, citing customer demand for the third largest cryptocurrency by market cap as the reason for the listing. In May, Luno added Litecoin to their exchange.