Luno Secures Class F Digital Asset License in Bermuda
Global cryptocurrency exchange Luno has secured a Class F digital asset business license in Bermuda. This license will serve as a regulatory hub to expand its operations, which have primarily focused on Africa and the Asia-Pacific region, into the business-to-business (B2B) trading space. Luno International announced on August 31 that it received the license from the Bermuda Monetary Authority (BMA). The Class F license can include services such as digital asset issuance, sale, redemption, payment services, exchange operations, trust services, and custody wallet services. Luno's permitted business scope includes over-the-counter trading, global spot markets, and wallet infrastructure. The over-the-counter trading targets cryptocurrencies, tokenized stocks, tokenized commodities, and the ZAR Universal stablecoin, which is based on the South African Rand. ZAR Universal is issued by Luno's affiliate BlockTowerTech and is aimed at institutional users. In the global spot market, users can access all digital assets available for trading on Luno, while the wallet infrastructure provides storage and transfer functionalities for digital assets. This license is part of Luno's shift from a focus on individual trading to institutional and B2B operations. Luno describes Bermuda as a jurisdiction for digital assets and modern payment services, with a licensing system categorized into Classes T, M, and F.
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