Luno Announces BCH Storage and Trading
London-headquartered cryptocurrency exchange Luno, formerly known as Bitx, has added Bitcoin Cash (BCH) trading to its platform following user feedback. Starting Monday, September 23, 2019, Luno customers can store, buy, and sell BCH alongside Bitcoin (BTC) and Ethereum (ETH), which were the only two assets previously supported. In its announcement, Luno emphasized that feedback from users in developing markets played a key role in this expansion.
CEO: Developing Economies Lead Mass Crypto Adoption
Marcus Swanepoel, CEO of Luno, stated: “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and application of cryptocurrencies. Luno has been part of this change and has listened to, and always worked hard to understand, the needs of these developing economies. It is for this reason we have moved to expand our offering of secure and legitimate digital currencies to individuals, enabling cross-functional accessibility and transfer of funds.”
Future Expansion with Safety First
The Luno team promised clients that the offering will continue to expand after the addition of BCH, with new digital assets to trade on the platform. However, they assured users that safety will remain a top priority. Any new coins added must have been monitored by the company for several years to ensure credibility before being listed on one of the world's leading exchanges. Marius Reitz, General Manager Africa for Luno, commented: “There are over 2,000 cryptocurrencies in the market and we take our role as a trusted platform very seriously. We are therefore very cautious about new coins. We only add new coins once we are confident of their security, credibility, and market traction.”
40 Countries, Over 3 Million Users
According to Luno, the company serves approximately 3 million users across 40 countries and maintains local offices in South Africa, Indonesia, Nigeria, Singapore, and Malaysia, with a global workforce of over 300 employees. For users whose platforms do not support Bitcoin Cash, alternatives include purchasing directly at buy.Bitcoin.com, buying peer-to-peer at local.Bitcoin.com, or joining exchange.Bitcoin.com.