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Cryptocurrency exchange Luno has announced a fresh round of layoffs, reducing its global workforce by 20% as part of a broader restructuring aimed at improving operational efficiency and adapting to changing market conditions. However, the company says the impact on its African operations has been minimal, with only about 5% of employees across Nigeria, Kenya and Uganda affected.
The latest workforce reduction comes as crypto firms worldwide continue to recalibrate their business models following years of market volatility, shifting investor expectations and increasing emphasis on profitability over rapid expansion.
CEO Cites Market Shift and Automation
Luno Chief Executive Officer James Lanigan said the restructuring was driven by several factors, including weaker retail cryptocurrency trading activity, evolving market dynamics and the company’s increased investment in automation.
According to Lanigan, the decision forms part of a long-term strategy to build a leaner and more sustainable business rather than a retreat from key markets.
While acknowledging the difficult impact of job losses on affected employees, he maintained that Africa remains one of Luno’s most strategic regions and continues to feature prominently in the company’s future growth plans.
Africa Still a Priority Market
Founded in South Africa in 2013, Luno established its reputation by expanding across African markets before growing its footprint into Europe and Asia.
Rather than scaling back its African ambitions, the company has recently strengthened its presence on the continent.
A major milestone came in July 2026, when Luno Nigeria became the first global cryptocurrency exchange admitted into the Securities and Exchange Commission’s Accelerated Regulatory Incubation Programme (ARIP). The regulatory milestone provides the exchange with a clearer pathway to operate within Nigeria’s evolving digital asset framework and reinforces its commitment to one of Africa’s largest cryptocurrency markets.
Company executives insist the latest restructuring should not be interpreted as a withdrawal from Africa but as part of efforts to position the business for long-term sustainability.
Crypto Industry Continues Post-Boom Reset
Luno’s announcement reflects a broader transformation underway across the global cryptocurrency industry.
Following the rapid expansion witnessed during the crypto boom of 2021, the sector experienced a sharp downturn after the market crash of 2022, prompting many exchanges and blockchain companies to reduce costs and streamline operations.
Like many of its peers, Luno has already undergone significant restructuring. In January 2023, the company reduced its workforce by 35% in response to the collapse of major crypto firms, including FTX, and the subsequent market turmoil.
This latest round of layoffs, however, differs from earlier cost-cutting measures. Rather than reacting to a crisis, Luno says it is redesigning its operations to improve efficiency, simplify internal structures and focus on business segments with stronger long-term growth prospects.
Strategic Focus Shifts Beyond Retail Trading
As retail cryptocurrency trading becomes more competitive and unpredictable, Luno is repositioning its business around emerging opportunities within the digital asset ecosystem.
The company is placing greater emphasis on stablecoins, institutional digital asset services and cross-border payment solutions, while leveraging automation to improve productivity and reduce operating costs.
The strategic shift mirrors a wider trend across the fintech and crypto sectors, where firms are increasingly investing in artificial intelligence and automation to streamline operations and improve profitability.
Leaner Operations Becoming Industry Standard
Luno is not the only cryptocurrency company adjusting its workforce in 2026.
Across Africa and other global markets, several crypto startups have implemented workforce reductions while embracing leaner operating models in response to tighter funding conditions and changing investor priorities.
Venture capital firms are placing greater emphasis on sustainable revenue growth, disciplined spending and operational efficiency, encouraging startups to move away from the aggressive expansion strategies that characterised the industry’s earlier years.
For technology professionals, the latest restructuring serves as another reminder that even high-growth sectors such as cryptocurrency remain vulnerable to economic pressures and strategic realignments.
Africa’s Crypto Outlook Remains Positive
Despite the job cuts, Luno’s continued investment in African markets suggests the company still views the continent as a critical driver of future growth.
Nigeria, Kenya and South Africa remain among Africa’s most active cryptocurrency markets, supported by growing digital asset adoption, increasing demand for cross-border payment solutions and evolving regulatory frameworks.
With regulatory clarity gradually improving and institutional interest in digital assets increasing, industry observers believe Africa will continue to play a significant role in the next phase of cryptocurrency adoption.
For Luno, the latest restructuring represents an effort to build a more resilient business while maintaining its commitment to the continent. Although the company is trimming its global workforce, its relatively limited layoffs in Africa indicate that the region remains central to its long-term vision for growth in the digital asset economy.
