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Digital Currency Group acquires cryptocurrency exchange Luno

Digital Currency Group acquires cryptocurrency exchange Luno

One of many largest organizations investing in blockchain corporations, Digital Foreign money Group, or DCG, has acquired the British multinational cryptocurrency trade Luno.

DCG first purchased a stake in Luno by investing within the trade’s seed spherical in 2014. Since then, the trade has unfold its roots throughout 40 international locations and at the moment boasts of greater than 5 million registered customers on its platform.

In an official announcement, DCG stated it is going to make a “vital dedication” to assist Luno additional broaden its territories in international locations it already operates in and in addition assist it launch in different international locations. DCG didn’t reveal the monetary phrases of the deal.

Talking on the acquisition by DCG, Luno co-founder and CEO Marcus Swanepoel stated that it was the right time to get the complete backing of DCG because the business was going via a “pivotal second.” He additional added that the acquisition will considerably speed up their skill to achieve their objective to assist improve 1 billion folks to a greater monetary system by 2030.

In a tweet in the present day, DCG stated the acquisition will assist each corporations speed up the “creation and adoption of a greater, extra accessible monetary system.”

DCG stated that Luno will maintain working as an impartial group beneath the management of its CEO whereas DCG will present management, partnership and funding capital to assist the trade scale its enterprise.

Primarily based in New York, DCG at the moment backs greater than 160 corporations in 35 international locations. It additionally absolutely owns the world’s largest digital asset administration firm Grayscale Investments, whose complete Bitcoin holdings lately handed $three billion.

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