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Luno, a Cryptocurrency exchange, which started in South Africa, has announced that it now has 5 million customers and has launched in Australia.

The company says that a supportive fintech environment as well as a growing cryptocurrency awareness and adoption as some of the reasons for expanding into Australia. The launch comes shortly after Luno announced it is expanding to the UK.

On why Luno expanded into the Australian market, Luno General Manager for Africa Marius Reitz said: “Our African expansion is moving steadily forward and we recently launched in Zambia and Uganda. Luno is on an expansion drive and the Australian crypto landscape ticked many of the boxes on our checklist.”

While there are crypto exchanges operating in Australia, they tend to be quite complex and serve a niche of tech-savvy traders.

“We identified an opportunity due to the relative complexity of their cryptocurrency landscape. Luno’s platform is a simple, easy, and safe way for average and starter crypto investors to buy crypto – new customers can go through our digital KYC (know your customer) process and complete their first transaction within a few minutes.

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We have a distinct focus on helping our customers to learn more about the future of money and cryptocurrencies,” Marius Reitz added

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