Luno, a cryptocurrency exchange owned by the Digital Currency Group (DCG), is considering going public as the company made changes at the leadership level.
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According to a report from CNBC, Luno Founder, Marcus Swanepoel, will resign as CEO to become executive chairman. Luno Chief Operating Officer, James Lanigan, will replace Swanepoel in his previous position. The exchange has also hired investment banking firm Canaccord Genuity Group to raise new funds from outside investors.
The move is expected to help the London-headquartered company to prepare for an eventual listing, the report added. However, the timeframe for IPO remains unclear.
DCG acquired Luno in 2021 for an undisclosed price. Back then, the exchange had 400 employees and over 5 million global customers from over 40 countries. However, in January 2023, Luno laid off around 35% of its global workforce, citing the blowups of Luna, Three Arrows, and FTX.
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