Cryptocurrency exchange Luno is cutting around 20% of its global workforce as part of a broader restructuring built around lower costs, automation and a push into new business lines.
Chief Executive James Lanigan confirmed the layoffs but did not reveal the exact number of employees losing their jobs. The cuts will affect teams across Luno’s international operations rather than one individual market.
This is not being framed as a retreat from crypto. Luno is still spending on its consumer platform, regulatory compliance and core infrastructure. The company simply believes it now needs fewer people to operate those services.
Automation Changes How Many Employees Luno Needs
Lanigan said Luno’s investment in automation and operational improvements over the past year had changed the resources required to run the company.
That is the blunt part of the restructuring.
Tasks that once demanded larger operational teams can increasingly be handled through software, automated workflows and more centralised systems. Luno has not provided a breakdown of which departments will take the heaviest cuts, leaving the full internal impact unclear.
The company is also adjusting its costs to match current market conditions. Retail crypto activity can move quickly, and exchanges built during busier trading periods often end up carrying more staff than they need when customer activity cools.
Luno previously made a much larger workforce reduction in 2023, when it cut roughly 35% of its employees during a difficult period for the wider digital asset market.
Luno Keeps Spending on Compliance and Infrastructure
The layoffs do not mean Luno is stripping the business down to its trading app.
The exchange plans to continue investing in compliance, infrastructure and its consumer products. Those areas are difficult to scale back, particularly as crypto platforms face tighter licensing requirements and greater scrutiny from regulators.
Luno operates across markets in Africa, Asia and Europe. The company says it has been active since 2013 and remains licensed in several jurisdictions.
Lanigan placed its customer base at around 16 million users across Africa and the Asia-Pacific region. The size gives Luno reach, but it also creates expensive compliance, security and customer-support responsibilities.
Automation may reduce some of those costs. It does not remove them.
Business-to-Business Crypto Services Become a Bigger Priority
Luno is looking beyond customers buying Bitcoin and other digital assets through its retail app.
The exchange is developing infrastructure for banks, fintech companies and other businesses that want to offer cryptocurrency services through their own platforms. Luno can provide wallets, access to liquidity, trading infrastructure and compliance capabilities without each partner building a crypto operation from scratch.
That side of the company already has a visible example in South Africa.
Discovery Bank customers can link their Luno accounts through the bank’s mobile app, allowing them to monitor their crypto portfolios alongside traditional banking products. Luno presents the partnership as proof that its infrastructure can support established financial institutions.
The business-to-business model could produce steadier revenue than relying almost entirely on retail trading fees. Trading activity rises when crypto markets are moving and can disappear just as quickly when investors lose interest.
Financial infrastructure contracts tend to move more slowly. They can also last longer.
Rand-Backed Stablecoin ZARU Remains Part of the Strategy
Local-currency stablecoins are another area Luno is continuing to explore.
The company is a founding participant in ZAR Universal Network, better known as ZARU. The project was launched in February 2026 alongside Sanlam, EasyEquities and Lesaka Technologies.
ZARU is backed by rand-denominated assets and operates on the Solana blockchain. It is intended to support fast, round-the-clock digital payments without exposing users to the same price swings seen in assets such as Bitcoin.
For Luno, the project moves crypto closer to payments and financial infrastructure rather than pure speculation.
That shift matters. Exchanges are trying to build products people and businesses might use even when crypto prices are not breaking records.
Luno Restructuring Reflects a Leaner Crypto Market
The Luno layoffs show how automation is changing the economics of running a cryptocurrency exchange.
The company still wants to grow. It wants more institutional partners, more financial infrastructure customers and a stronger position in local digital currencies. It just plans to pursue those goals with a smaller workforce.
For the employees affected, the distinction offers little comfort.
For the wider fintech market, the message is harder to ignore: automation is no longer being discussed only as a future efficiency tool. It is already changing hiring plans, operational structures and the number of people companies believe they need.
Sources
- Fintech News Singapore
- CoinDesk
- Luno – ZAR Universal Network
- Luno – Discovery Bank Partnership
- Luno Institutional Services