Crypto exchange Luno cuts 20% of staff amid automation push and retail trading slumps

Cryptocurrency exchange Luno is cutting about 20% of its global workforce as part of a restructuring effort driven by weaker retail trading and increased automation, according to a Bloomberg report. The company’s CEO, James Lanigan, confirmed the layoffs but did not specify the number of employees affected. Lanigan attributed the need for fewer resources to operational improvements and automation investments made over the past year.

This reduction follows a previous significant cut of 35% of staff in January 2023, which was prompted by difficult market conditions. Luno, which is owned by Digital Currency Group since 2020, is reshaping its business toward a leaner structure that favors more institutional clients alongside its retail operations. The new organizational framework combines its retail exchange, with 16 million users, and a white-label service that enables banks, fintechs, and telecom firms to offer crypto products using Luno’s liquidity, wallets, and compliance infrastructure.

The decline in retail trading volumes at Luno reflects broader industry trends, where other exchanges such as BitMEX and BitMart have also scaled back or shut down operations. Luno has been focusing on strengthening its retail products, infrastructure, regulatory compliance, and expanding its business-to-business offerings. One example cited is the partnership with South Africa’s Discovery Bank, which began offering over 50 cryptocurrencies through Luno in December 2025.

Additionally, Luno plans to stop serving customers in certain markets from September 1, concentrating its efforts primarily on Africa and Southeast Asia. This strategic focus aims to address market challenges while leveraging regions with stronger demand. CoinDesk has reached out to Luno for further comment but had not received a response at the time of reporting.