Cryptocurrency Group or DCG, one of the largest organizations investing in blockchain, has acquired the UK-based international cryptocurrency exchange Luno.
DCG first acquired a stake in Luno, and invested in the first IPO in 2014. Since then, the exchange has spread its roots in 40 countries and currently has over five million registered users on its platform.
In an official statement, DCG said it would make “significant commitments” to help Luno expand its territory in countries where it already operates, as well as help launch it in other countries. DCG did not disclose the financial terms of the agreement.
Markus Swanepoel, co-founder and CEO of Luno, talked about the DCG acquisition and said that this is the perfect time to get DCG’s full support since the industry is at a “turning point.” He added that the acquisition will accelerate their ability to reach the goal of helping one billion people move to a better financial system by 2030.
In a tweet today, DCG said the acquisition will help the two companies accelerate “the creation and implementation of a better and more accessible financial system.”
DCG said that Luno will continue to operate as an independent entity under the leadership of its CEO, while DCG will provide management, partnerships and investment capital to help the exchange expand its operations.
Headquartered in New York, DCG currently supports over 160 companies in 35 countries. He also owns the world’s largest digital asset management company, Grayscale Investments, whose total bitcoin holdings recently exceeded $ 3 billion.