Luno will cut 20% of its workforce due to declining retail trading and a shift towards automation, following a previous 35% reduction earlier this year.
In response to a significant drop in retail trading and a pivot towards automation, cryptocurrency exchange Luno has announced plans to reduce its workforce by around 20% globally.
The layoffs follow a previous 35% reduction in staff earlier this year, reflecting ongoing challenges in the market.
CEO James Lanigan confirmed the job cuts to Bloomberg but refrained from disclosing the exact number of employees affected. He explained that the company’s focus on automation and operational improvements has shifted the resource requirements for its operations.
Despite the workforce reduction, Luno remains committed to enhancing its retail services, infrastructure, and regulatory compliance while also expanding its business-to-business offerings.
This marks the second major workforce cut for Luno in just over three years, following a difficult year in the cryptocurrency market. The restructuring will merge its retail exchange, which serves 16 million users, with a white-label service that allows banks and fintech firms to offer crypto products under their brands, with Luno providing necessary liquidity and compliance support.
The decline in retail trading is part of a broader trend affecting the cryptocurrency sector, as several exchanges, including BitMEX and BitMart, have halted operations.
In December 2025, South Africa's Discovery Bank began offering access to a range of cryptocurrencies through Luno, marking a significant development in the sector. This integration was announced in the preceding month.
Following this restructuring, Luno has decided to cease operations in certain markets as of September 1, focusing its efforts on Africa and Southeast Asia. Luno was acquired by Digital Currency Group in 2020.
CoinDesk sought additional comments from Luno but did not receive a response prior to publication.
