Luno acquires Kenyan cross-border payments startup GTXN to own licensed rails into emerging markets

Luno, the digital asset platform owned by Digital Currency Group, has acquired GTXN, a Kenyan startup that provides collection and payout infrastructure across corridors linking developed and emerging markets. Financial terms were not disclosed.

Founded in 2022, GTXN moves regulated cross-border flows on its own licensing footprint. It will operate as the group's cross-border payments capability, with founder Dan Kleinbaum, who previously co-founded mobile money startup Beyonic and sold it to Onafriq, staying on as CEO.

Luno, founded in 2013, serves more than 15 million customers. It will offer GTXN's rails to enterprise clients as a single settlement flow, combining its liquidity and licences with GTXN's payouts. CEO James Lanigan said clients had been asking for one provider covering the whole flow.

The read: crypto platforms are buying payment licences to sell settlement to businesses.