Some Bitcoin enthusiasts may be familiar with the Luno application. This particular platform specializes in buying and selling of cryptocurrency. Up until this point, the service was only available to a select few countries. In the latest update, the platform expands to an additional 35 markets, mainly in Europe. Additionally, the company will hold a Series B funding round as well. All things are looking positive for Luno right now, that much is evident.
It is good to see services such as Luno expand their availability. More specifically, convenient solutions to buy and sell Bitcoin are always in high demand. While the platform was only available in a handful of countries, that is no longer the case. As of today, Luno is accessible across 450 different markets. It’s nice to see a strong focus on Europe these days, as this region certainly lacks competition.Whether or not the company can make a big impact, remains to be seen.
Luno Aims to Make big Waves in Europe
Luno has always been about bringing digital currencies to everyone in the world. Rather than using centralized exchanges, the company wants to provide a fast and convenient service in this regard. Especially in Europe, there is a glaring lack of high-quality and secure services. Expanding into this region will be a big challenge for the company. However, competition is always welcome in the European Bitcoin market.
Expansion is not the only aspect of this company to pay attention to. More specifically, Luno announced the second round of funding. By raising another $9m, the company can expand its presence and provide an even better service. Notable partners in this funding round include Balderton Capital, Rand Merchant Investment Holdings, Digital Currency Group, and Venturra Capital. All of this goes to show major firms have big hopes for this company, for obvious reasons.
With the additional funding, Luno will look to expand its team. Right now, they have 70 staffers. That number will likely double over the coming months. With three main hubs to operate from, there is plenty of work to be done moving forward. It is evident this startup can quickly become one of the biggest forces in all of cryptocurrency. Especially in the European market, interesting things are bound to happen sooner or later.
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