Luno cuts 20% of staff as it pivots from retail trading to B2B and stablecoins

Crypto exchange Luno is cutting roughly 20% of its global workforce, Chief Executive Officer James Lanigan confirmed this week, as the Digital Currency Group-owned exchange shifts resources toward business-to-business and institutional services amid weak retail trading volumes.

The restructuring reflects a wider industry trend in which digital asset firms are prioritising sustainable growth over rapid expansion.

Luno pivots toward institutional growth

According to Bloomberg, Luno will reduce roughly one-fifth of its workforce globally while reorganising operations around higher-margin business segments, particularly its institutional and enterprise offerings.

CEO James Lanigan said the restructuring is designed to better align the company’s cost base with current market conditions while strengthening investments in infrastructure and regulatory compliance.

“We’re restructuring the business to align our costs with current market conditions while expanding our B2B business.” James Lanigan, Chief Executive Officer, Luno.

Although Luno did not disclose the exact number of employees affected, the company confirmed that customer operations will continue uninterrupted.

The exchange serves millions of users across Europe, Africa, Southeast Asia and other emerging markets, making it one of the more established global crypto trading platforms.

The move also underscores an important shift within the crypto exchange industry. Rather than relying heavily on retail trading volumes, which have remained inconsistent despite Bitcoin’s long-term growth.

Crypto layoffs continue despite market maturity

Luno’s announcement adds to a growing list of crypto companies reducing headcount during 2026.

Earlier this year, Coinbase announced plans to cut approximately 14% of its global workforce, citing subdued trading activity alongside a broader organisational restructuring focused on artificial intelligence and operational efficiency.

In an internal memo shared publicly, Coinbase CEO Brian Armstrong explained the rationale behind the restructuring.

“The biggest risk now is not taking action. We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native.” Brian Armstrong, CEO, Coinbase.

Meanwhile, blockchain analytics platform Dune also eliminated roughly 25% of its workforce in May, with CEO Fredrik Haga stating that the company was sharpening its focus on core data products while increasingly leveraging AI-powered tools.

These announcements indicate that the latest wave of layoffs is less about survival than strategic repositioning.

Unlike the 2022–2023 crypto winter, when many firms faced liquidity crises following the collapses of Terra and FTX, today’s restructuring efforts are largely aimed at improving profitability, streamlining operations and adapting to technological change.

Investors watch for stronger fundamentals

Market participants increasingly evaluate exchanges based on operational resilience, regulatory preparedness and diversified revenue rather than user growth alone.

Companies investing in institutional infrastructure, custody services and compliance may be better positioned to benefit from expanding digital asset adoption among banks, payment companies and traditional financial institutions.

Analysts note that reducing operating expenses can improve long-term profitability, particularly during periods of lower trading volumes.

However, repeated workforce reductions across the industry also highlight ongoing pressure on exchange business models that remain heavily dependent on transaction fees.

The restructuring arrives as regulators worldwide continue tightening oversight of cryptocurrency platforms, requiring greater investment in compliance systems and operational controls.

Those additional costs are encouraging exchanges to become leaner while focusing on business lines capable of generating recurring revenue.

What Luno’s move signals for the crypto industry

Luno’s decision illustrates how the crypto sector is entering a more mature phase.

Instead of expanding aggressively during bullish market cycles, exchanges are increasingly prioritising efficiency, regulatory readiness and institutional partnerships.

This transition reflects broader changes in digital asset markets, where sustainable business models are becoming more important than rapid user acquisition.

While workforce reductions inevitably create short-term uncertainty for employees, investors are likely to interpret Luno’s restructuring through the lens of long-term competitiveness.

Firms that successfully balance cost discipline with investment in compliance, infrastructure and enterprise services could emerge stronger as institutional adoption of cryptocurrencies continues to grow.

For crypto investors, the key takeaway is that the industry’s evolution is no longer defined solely by token prices.

Corporate strategy, operational efficiency and regulatory positioning are becoming equally important indicators of which exchanges are best positioned for the next phase of digital asset growth.