Luno, one of the largest cryptographic money exchange in Nigeria and South Africa, crossed the 4 million clients achievement in May. Not long after that, news surfaced that the trade will enter the Ghanaian and Kenyan markets.
In March 2020, Luno recorded its most elevated number of dynamic clients comprehensively since April 2019 and saw a 25% expansion in new clients from Q4 (2019) to Q1 (2020) in Africa. A great many Luno’s new clients originated from Nigeria, South Africa, Zambia, and Uganda. This brought about a 100% expansion in exchanging volumes during this period.
As indicated by Marius Reitz, Luno’s General Manager for Africa, this development level can be ascribed to the surprising occasions we wind up in. Reitz accepts that individuals are looking past the customary methods of dealing with their funds.
WE’RE LIVING IN UNPRECEDENTED TIMES AND WITH THE UNCERTAINTY CAUSED BY THE PANDEMIC, AN ENTIRELY NEW AUDIENCE IS LOOKING AT CRYPTOCURRENCIES FOR THE FIRST TIME. THEY’RE BEGINNING TO THINK BEYOND THE TRIED AND TESTED WAY OF MANAGING MONEY THAT YIELDS NO RETURN AND THAT’S BEEN REFLECTED IN THE GROWTH TRENDS WE’VE SEEN SINCE THE START OF THE PANDEMIC.
Africa is liable for a solid extent of clients on Luno. Traffic bits of knowledge from Alexa show that 37.8 percent and 37 percent of Luno guests are from Nigeria and South Africa.
Additionally, Luno has been encountering significant development in South East Asia with a developing userbase from Malaysia and Singapore.
Beside intersection 4 million clients, Luno is the greatest non-P2P stage by exchanging volume Africa. Luno forms roughly $4.5 million every day in exchange volume. The biggest supporter of this exchanging volume is South Africa.
Likewise, Luno’s new State of Crypto in Africa report shows a developing hunger for digital forms of money in Africa. Among web clients who claimed cryptographic money, South Africa positioned third-most noteworthy worldwide at 13%, with Nigeria positioned fifth at 11%. Similarly, 16% of South Africans with web get to had either utilized or possessed cryptographic money, positioning just behind Turkey, Brazil, and Colombia.