Luno to cut 20% of staff as exchange shifts toward automation and platform overhaul

Layoffs follow weaker retail activity

Luno said the reduction is part of an effort to create a leaner model at a time when retail trading activity has slowed and automated systems are taking on a larger role in day-to-day operations. Company leadership described the move as difficult but necessary for customers, the remaining staff and the long-term goal of building a more sustainable organization.

This is the second significant round of job cuts at Luno in roughly three and a half years. In January 2023, the company reduced headcount by 35% during a broader downturn in digital asset markets. The latest cuts therefore come after an earlier attempt to adjust costs during a weaker period for the sector.

Three-unit structure on a single platform

As part of the overhaul, Luno plans to reorganize around three main business units built on one core platform. One division will combine the company’s consumer product with its B2B API business, serving institutional partners through white-labeled crypto trading, custody and compliance services.

A second unit will focus on local-currency stablecoins for emerging markets. The company highlighted rand-backed Zaru as an example, describing it as aimed at enabling 24/7 same-day settlement.

The third division will center on institutional services, including an over-the-counter desk for large-volume asset conversions and networks intended for cross-border settlement.

Market exits and customer deadlines

Alongside the internal reorganization, Luno said it will leave markets it considers non-core before September 1, 2026. The company has already informed users in some of those jurisdictions that services will end on that timeline.

According to the plan outlined to customers, deposit and purchase functions in affected markets will be disabled on June 1. Users will then have until August 31 to sell holdings and withdraw their funds before the shutdown date.

South Africa consultations under way

The company did not disclose how many of the eliminated roles are tied to South Africa, where Luno was founded. It said formal consultations with affected employees are under way there in line with local labor rules.

The restructuring ties together several pressures visible across crypto businesses: softer retail participation, a stronger push toward automation and a greater focus on services aimed at institutions and payments infrastructure. For Luno, the immediate result is another substantial workforce reduction, a more concentrated product structure and a planned withdrawal from selected markets over the coming year.