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Luno Raises $9m in Series B Fundraising and Expands to New Markets



Luno Raises $9m in Series B Fundraising

Luno managed to raise $9million in a Series B funding round from new and existing investors. The money will be used to expand into new European markets and provide innovative ways for customers to learn, buy and store cryptocurrencies like bitcoin. African customers can expect a more refined digital experience in the countries Luno currently operates.

New Funding Round

LunoLuno is a bitcoin exchange and wallet provider that is based in London with offices in Cape Town and Singapore. Since its early days as a pioneer in designing a fully integrated bitcoin pilot system for a leading bank, the company has expanded and now offers merchant services together with its consumer wallets and exchanges.

The funding round was led by Balderton Capital, one of Europe’s elite venture capital firms. Luno has in the past worked closely with the Balderton team and welcomes their wealth of experience in scaling global businesses, their strategic business networks and an appreciation of Luno’s core mission and what is required to achieve it. Another investor involved in the finding round is AlphaCode, which is an investment subsidiary of Rand Merchant Investment Holdings (RMI). This is a renown financial services company that has created and invested in some of the leading fintech companies in the UK and Africa. RMI bring to the table years of experience in working with management teams that have built successful companies across various industries.

Previous investors, Digital Currency Group, were also involved in the new funding round. The new investors will join other companies that invested in Luno’s Series A round which raised $4 million. The firms include South East Asian venture capital firm, Ventura Capital and tech giant Naspers.

Moving Into New Markets

The money raised will fund Luno’s expansion into 35 new European markets. The company has noted despite the increasing demand for cryptocurrencies globally, there still exists a need for user-friendly, secure and high-quality products in many places, Europe included. Changing that is the company’s goal as is evident from their vision to make digital currencies accessible to anyone, anywhere, and to do so in a manner that is safe and very enjoyable.

Luno has managed to establish itself as a market leader in South East Asia and Africa, despite facing some regulatory challenges in a few markets. For instance, the company halted offering its exchange services in Kenya due to regulatory pressure from a bitcoin unfriendly central bank that has made it difficult for banks to partner with bitcoin startups. However, this has not affected its growth with the company continuing to build its presence in the UK and other jurisdictions.


Can Bitcoin QR Codes Provide Artists With A New Revenue Stream?



Bitcoin allows everyone in the world with an Internet connection to send and receive payments without the need for a financial institution as an intermediary. This also enables anyone to be rewarded for their product, service or even artwork by simply providing a bitcoin address for payments.

Pascal Boyart, a French street artist, is using quick response (QR) codes to help Kickstart his street art career with bitcoin donations. He recently gained the attention of the bitcoin community when one of his murals became a trending topic on the Bitcoin subreddit. Boyart has already received over 0.11 bitcoin, which translates to roughly $1,000.

A self-described cryptocurrency enthusiast, Boyart believes that there are many benefits for the creative industry from decentralisation. According to a report by The Next Web, rather than displaying art in galleries and going through dealers, the bitcoin QR code is part of a movement by artists who want to gain more independence. Boyart also explores the themes that relate to crypto and decentralisation in his work. The artwork that made Boyart popular on Reddit was a mural painting of Rembrandt, the famous Dutch painter.

Bitcoin QR Codes

Bitcoin QR CodesWhen using bitcoin to pay at point-of-sale or face-to-face, users generally scan QR codes to make the payment instead of typing in lengthy bitcoin wallet addresses. A QR code can easily represent the amount of data required in a machine-readable manner for a bitcoin payment to be processed.

Independent artists often struggle financially, which is why new forms of monetisation, such as Patreon or integrating cryptocurrency QR codes into their work, provide excellent alternatives that could lead to artists being able to live solely off their art.

Boyart managed to earn revenue from his murals without needing an exhibition in a gallery simply by attaching bitcoin QR codes to his work. This shows that as a decentralised peer-to-peer payment platform, bitcoin presents all creatives, whether they are authors, artists, musicians or photographers, with a new potential monetisation avenue as they can sell their work directly to fans worldwide.

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Gxbot24 Launches New Digital Asset Exchange in South Africa




Gxbot24 has launched a new digital asset exchange in South Africa which will enable customers to trade Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Bitcoin Gold (BTG) at very competitive fees.

The exchange UI is designed in a simple way and it only takes a novice user a few minutes to register and start trading. Advanced charting tools like MACD, MA, EMA will be available which is over and above what other local exchanges offer.

Security of the exchange is critical, as pointed out by the founder Desmond Gurure who highlighted that the exchange uses multi-signature wallets, and keeps the majority of all coins in cold storage to keep wallets safe at any given time. Desmond has vast experience in architecture and software development and to name a few have worked for one of the biggest telecoms giant Ericsson.

Gxbot24 complies with KYC, AML and FICA regulations.

The fees for ZAR pairs are 0.5 percent while for BTC pairs are 0.25 percent.

You can find more about the exchange at


*This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company, product or service. Bitcoin Africa Ltd. is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in the press release.*

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How Much Profit Have South Africans Made Investing in Cryptocurrency?



south africans investing in cryptocurrency

Trading in cryptocurrency is risky but has the potential to make investors “crypto rich” in a short period of time. South Africans are very aware of this, which has led to an increase in bitcoin trading volumes in the past few years.

In South Africa, cryptocurrency investors experienced their fair share of losses and gains as a new study reveals.

The MyBroadband 2018 Cryptocurrency Survey found that bitcoin was the cryptocurrency investment of choice among South Africans. Unfortunately, it was also the cryptocurrency with the biggest losses.

The survey, which was conducted this year in April, was conducted to record experiences in the cryptocurrency investment landscape and involved 1,244 respondents. Out of those questioned, 78 percent have had first-hand experience with cryptocurrency investing.

From the 970 respondents who had contact with cryptocurrency, 57 percent had made profits reaching a high of R50,000 (approximately, $3,980). For the respondents that made a loss, the majority did not lose more than R50,000.

Bitcoin was the most popular investment. However, out of those surveyed about 50 percent experienced gains while around 50 percent experienced losses. This suggests that many investors have only started to invest in bitcoin after its December 2017 all-time high.

In terms of investment gains, ether (ETH) came in second place at 17 percent, ripple (XRP) at six percent, with litecoin (LTC), NEO (NEO), and Cardano (ADA) at two percent, and Monero (XMR), EOS, IOTA, & Stellar (XLM) at one percent.

Cardano, Monero, and NEO were recorded as the cryptocurrencies in which traders made the lowest losses.

Crypto Asset Prices Year-to-Date

Since the start of the year, digital asset investors have had a difficult time. After bitcoin (BTC) peaked in mid-December 2017 at $20,000, its price dropped to a low in the $6,000s in February and March.

Many altcoins – such as ether (ETH) and NEO (NEO) – had their most recent all-time highs in January and are still struggling to break out towards again to move towards these highs.

However, market sentiment has started to turn around after a crushing first quarter. In fact, April has been one of the best months for crypto asset returns and many experts believe that the price of bitcoin will end the year higher than it did in 2017.

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