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Luno, a regulated digital asset platform operating across several emerging markets, has acquired GTXN, a cross-border payments company, and named Dan Kleinbaum as its chief executive officer.
He has more than a decade of experience building payments infrastructure in emerging markets, and co-founded Beyonic, a mobile-money platform that ran across seven African markets before its acquisition by Onafriq (formerly MFS Africa) in 2020. He later built an FX and cross-border treasury business serving corporates and institutions in East Africa.
The deal gives Luno licensed rails to collect and pay out money across corridors linking developed and emerging markets, offered to enterprise clients as one settlement flow.
“I have spent my career making payments work in markets the rest of the world finds hard to reach. What drew me to Luno is the foundation. Very few companies have the liquidity and the regulatory standing to run cross-border settlement at real scale in these regions. With that behind us, we can build something that has been out of reach for most of the industry,” said Dan Kleinbaum, chief executive officer of GTXN.
GTXN is a cross-border payments company and part of Luno. It provides collection and payout infrastructure across developed and emerging market corridors, backed by a licensing footprint for regulated cross-border flows.
Cross-border payments remain a hard problem to solve. Payments move slowly, require licenses in each market, and often lack strong local infrastructure. This keeps costs high, even when technology could help.
Luno has built regulatory status and liquidity over the past decade. GTXN adds licensed collection and payout services, so clients use one provider and settle through Luno’s liquidity. GTXN will be the group’s cross-border payments arm.
“Moving money between developed and emerging markets is still too slow and too expensive, and our clients feel it every day. We have spent years earning the licences and the trust it takes to operate in these corridors, and building the liquidity underneath. GTXN gives us the payment rails to match. Clients get one provider for the whole flow, which is what they have been asking us for,” said James Lanigan, chief executive officer of Luno.
Founded in 2013, Luno is a regulated digital asset platform that lets customers buy, store and manage digital assets, alongside a growing set of institutional services. It operates across multiple markets and serves more than 15 million customers. Luno is part of Digital Currency Group.
