Cryptocurrency exchange Luno has acquired Kenyan cross-border payments company GTXN for an undisclosed amount, bringing GTXN’s licensed collection and payout infrastructure into Luno’s operations. Following the acquisition, GTXN will become Luno’s cross-border payments arm, with founder Dan Kleinbaum remaining as its Chief Executive Officer.
The acquisition will allow Luno to expand beyond its traditional role as a platform for buying and selling cryptocurrency by incorporating cross-border payment capabilities into its services. The company said businesses will be able to collect and make payments through a single provider, with transactions settled against Luno’s liquidity.
Luno said integrating the payment infrastructure could reduce the number of intermediaries involved in international transfers. Cross-border transactions can involve multiple intermediaries, potentially resulting in additional fees, currency conversions, compliance requirements and processing delays.
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The move is particularly relevant to African businesses, where cross-border payment systems remain fragmented, especially for transactions between developed and emerging markets. GTXN, which is a Kenyan-licensed fund manager and cross-border payments provider, will provide Luno with a regulated infrastructure layer that can be integrated into its existing operations.
The acquisition also forms part of Luno’s broader expansion into stablecoins, wallets and institutional settlement, reducing its reliance on retail cryptocurrency trading. GTXN’s infrastructure is expected to support this strategy by providing regulated payment capabilities for businesses and institutions.
Kleinbaum brings previous experience in African digital finance to the deal. He co-founded Beyonic, a mobile-money company that operated across seven African markets before being acquired by Onafriq, then known as MFS Africa, in 2020. He later founded GTXN to provide foreign-exchange and cross-border treasury services to corporates and institutions in East Africa.
The acquisition comes as Luno continues to restructure and strengthen its institutional business. In July 2026, Luno’s Nigerian entity entered the SEC’s Accelerated Regulatory Incubation Programme, while in August the company announced a 20% global workforce reduction, with about 5% of roles in Nigeria, Kenya and Uganda reportedly affected.
In August 2026, Luno also reorganised its operations into three areas covering retail and crypto-as-a-service, stablecoins and wallet infrastructure, and institutional and settlement services. The company also secured a Bermuda digital-asset licence to support its institutional and B2B operations, making GTXN’s regulated cross-border payment infrastructure part of Luno’s wider strategy to expand its institutional and international financial services.
