South African crypto exchange Luno has announced the acquisition of GTXN, a Kenyan cross-border payments startup. The deal — financial terms undisclosed — marks Luno's entry into the B2B payments segment across sub-Saharan Africa.
What the Acquisition Changes for Luno
GTXN brings Luno a payment collection and disbursement infrastructure with a Kenyan licence, one of the continent's most active fintech markets. Corporate clients will be able to route cross-border payments through a single provider, with settlement backed by Luno's crypto liquidity. Dan Kleinbaum, GTXN's founder — formerly co-founder of Beyonic, acquired by MFS Africa (now Onafriq) in 2020 — stays on as CEO of the acquired entity.
A Restructuring in the Background
The acquisition comes amid deep internal change at Luno. In August 2026, the company announced a 20% reduction in global headcount, including around 5% of positions in Nigeria, Kenya and Uganda. It has also secured a digital asset licence in Bermuda for institutional activities — signalling a strategic upmarket move.
A Sector in Motion
The GTXN deal fits into a broader wave of African fintech consolidation. Algeria's central bank approved Djezzy Payment Services as a payment services provider. South Africa's Mission Mobile raised up to $30.8 million (R500 million) from DN Invest to finance smartphones via mobile operators. In Kenya, a new payments bill could open bank data to licensed third parties.
Why It Matters
For SMEs across East Africa managing multiple payment providers, Luno entering this space with a locally licensed infrastructure is a potentially significant simplification. The integration of crypto liquidity into traditional payment rails also signals that the boundary between conventional finance and digital assets is thinning — a decisive trend for intra-regional trade across the Indian Ocean.