DCG's cryptocurrency exchange Luno is proceeding with another round of layoffs. The company disclosed that due to weakening retail trading and investments in automation, existing staffing has changed, and the group will cut approximately 20% of its global workforce.

Luno CEO James Lanigan confirmed the change to Bloomberg but did not disclose the specific number of people affected. He stated that the company's investments in automation and operational improvements over the past year have altered the resource structure required to maintain business operations.

Continue to invest in retail business

Despite the layoffs, Luno stated that it will continue to invest in retail products, infrastructure, and compliance. At the same time, the company is expanding its business with enterprise clients, hoping to place more growth in institutional partnerships.

Luno's new business structure combines its retail trading platform, serving approximately 16 million users, with a white-label service. This service allows banks, fintech companies, and telecom operators to offer crypto products under their own brands, while Luno handles liquidity, wallets, and compliance infrastructure.

This is the second large-scale layoff in three and a half years.

This marks Luno's second major workforce reduction in three and a half years. The company previously laid off 35% of its workforce in January 2023, citing an exceptionally challenging market environment as the reason.

This adjustment comes after the company scaled back its regional strategy. Luno had previously decided to suspend customer service in some markets starting September 1, focusing its efforts on Africa and Southeast Asia. Digital Currency Group acquired the exchange in 2020.

Slowing retail transactions drag down the industry

Luno's changes also reflect broader operational pressures within the crypto industry. With declining retail trading activity, many platforms are downsizing or restructuring. The report mentions that BitMEX and BitMart have also scaled back some operations.

In terms of institutional partnerships, Discovery Bank in South Africa provided its customers with access to more than 50 cryptocurrency trading platforms through Luno in December 2025, which is seen as a successful example of its white-label model.

Additional information:Luno did not disclose the specific number of employees involved in this round of layoffs. CoinDesk stated that it had not received a further response from Luno for its request for comment at the time of publication.