One of the largest organizations investing in blockchain companies, Digital Currency Group or DCG, acquired British multinational cryptocurrency exchange Luno.
DCG first bought a stake in Luno by investing in the launch round of the exchange in 2014. Since then, the exchange has spread its roots to 40 countries and currently has over five million registered users on its platform.
According to the news in Cointelegraph, in an official announcement, DCG said it will make a "significant commitment" to help Luno further expand its territories in countries where it currently operates, and to help launch in other countries. DCG did not disclose the financial terms of the deal.
Regarding DCG's acquisition, Luno's co-founder and CEO Marcus Swanepoel said that while the industry is experiencing a "crucial moment", it is time to gain DCG's full support. He also added that the acquisition will significantly accelerate their ability to achieve their goals of helping raise 1 billion people to a better financial system by 2030.
In a tweet today, DCG said the acquisition will help both companies accelerate "the creation and adoption of a better, more accessible financial system."
DCG said it will continue to operate as an independent organization under the leadership of Luno's CEO, while DCG will provide leadership, partnership and investment capital to help the exchange grow its business.
New York-based DCG currently supports more than 160 companies in 35 countries. He is also the full owner of Grayscale Investments, the world's largest digital asset management company, whose total Bitcoin assets recently exceeded $ 3 billion.
