Naspers [JSE:NPN]-backed cryptocurrency platform Luno is expanding into Australia as Bitcoin rallied 59% this year amid the coronavirus pandemic. While Australia’s trading in Bitcoin reached a new record in February, the numbers are still lower than expected considering the size of the country’s economy and economic indicators, Luno General Manager Marius Reitz said in an interview. According to Bitcoin.com, crypto-based merchant trade in Australia reached almost $74 000 in February, up from $44 000 in January. The exchange, which trades Bitcoin, Ethereum, XRP and Litecoin, recently also started trading in Zambia and Uganda, he said. Naspers, Balderton Capital UK, Rand Merchant Investment Holdings, Venturra Capital and Digital Currency Group all own minority stakes of less than 20%.

Source: News 24 August 27, 2020 15:33 UTC