Africa’s Largest Crypto Exchange Looks For Expansion in US

Africa’s largest cryptocurrency exchange is attempting to establish a presence in the United States, becoming the latest international platform to target one of the world’s largest populations of digital-asset investors. Luno, which is owned by the conglomerate Digital Currency Group Inc., is assessing regulatory regimes in all 50 states to allow for its rollout later this year, according to Marius Reitz, its general manager for Africa. He stayed in an interview: “It is more complex than launching in an individual market because of the different states and different regulations within each of these states, so there are lots of moving parts. But it is a company focus for us for 2022.” Luno to Soon Add New Coins Several rapidly expanding cryptocurrency exchange brands, such as FTX and Binance, have entered the US market. According to a report, the world’s largest economy is home to more than half of the world’s crypto unicorns. A unicorn is a private company with a valuation of at least $1 billion. Luno, which was founded in 2013, has 9 million users from Asia to Africa. It currently trades tokens such as Bitcoin, Ethereum, and Ripple, and Reitz anticipates that it will soon add new coins chosen from the world’s ten most liquid cryptocurrencies. When selecting a coin, ‘a lot of the operation time goes into security and custody,’ he said. Luno was founded by Digital Currency Group, which purchased it entirely in 2020. A year late...