Luno completes acquisition of GXTN

Luno completed its acquisition of GXTN, the companies announced, combining GXTN’s crypto technology with Luno’s exchange and wallet services.

The transaction will integrate GXTN’s technology and personnel into Luno’s trading, custody and backend operations. Financial terms were not disclosed.

Regulators in the jurisdictions where both firms operate reviewed and approved the deal before closing. The companies expect the integration to be phased over the coming months to limit disruption for customers.

Existing account and wallet access will remain unchanged during the integration and customer support channels will continue to operate. No detailed timeline for feature rollouts or system migrations was provided.

GXTN staff will join Luno under existing contracts. The firms are aligning compliance, risk and operational processes and plan to focus combined teams on engineering, security and expanding product options.

No purchase price or specific performance targets were disclosed. The companies will notify regulators and customers of any material changes to services or terms of use as integration proceeds.

Luno operates a cryptocurrency exchange and wallet service across several international markets. GXTN provides technology and services to trading platforms and institutional clients. The acquisition brings an exchange operator and a technology provider together to add technical capacity and broaden product offerings.