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DCG has acquired the London-based but emerging market-focused bitcoin and cryptocurrency exchange Luno for an undisclosed sum. Luno has 5m users in 40 countries and said it has seen record growth of its customer base in 2020. Luno has regional offices in Malaysia, Nigeria, Indonesia, and South Africa, reflecting its emerging market focus.
"Luno is a high growth, global business and there is a massive opportunity to expand organically and through acquisitions," DCG founder and chief executive Barry Silbert said in a statement, adding: "We have been extremely impressed with the Luno team since we made our initial investment." DCG, which has backed around 160 blockchain and crypto companies, first invested in Luno in its seed round in 2014 and has said it will now be "making a significant financial commitment to help Luno expand globally."
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