Companies & Products

Luno adds Cardano and Solana to its Platform

Luno is a leading global cryptocurrency investment app on a mission to put the power of crypto in everyone’s hands. Since its founding in 2013, Luno has become a leader in responsible crypto education and investment, introducing over 10 million people to crypto in more than 40 countries across the US, Europe, Africa, Asia, and Australia. 

Today LUNO announced it is adding two more cryptocurrencies to its app: Cardano (ADA) and Solana from early October (SOL).

Cardano is often described as a ‘next-gen evolution’ of Ethereum. It aims to be the most scalable and sustainable platform for running decentralized applications (dApps) by taking a methodical, research-driven approach to its development. Solana is the fastest blockchain in the world and the fastest growing ecosystem in crypto, with thousands of projects spanning DeFi, NFTs, Web3, and more.

Also Read: Luno Expands Cryptocurrency Offerings with LINK and UNI Addition

With continuing interest in the wider applications of Bitcoin, ADA and SOL are the latest cryptocurrencies that Luno is adding to its portfolio, following the addition of ChainLink (LINK) and Uniswap (UNI) earlier this year. Luno wants to ensure its ten million+ customers have access to these wider investment opportunities. 

“As big advocates of building for the long term, we believe it’s important to give customers access to newer crypto applications that have a promising future. Now, not only do customers have access to ADA and SOL, but they also have the peace of mind that comes with the rigorous security that customers rely on from Luno”, comments Marius Reitz, General Manager for Africa at Luno.

“In a world that can look complex, we want to break down the complications around cryptocurrencies to make it easy for people to buy, send, store, and learn about. Customers don’t need to make one large investment to get started but can build and grow their investment over time through smaller amounts – similar to how they make contributions to their pension for example,” comments Reitz.

While ADA and SOL meet Luno standards for safety, being listed on Luno is not an endorsement of its future potential as an investment. Luno assesses prospective assets based on factors like security, compliance, and utility, but will always suggest anyone looking to invest in crypto should do their research and exercise good judgment before investing.   

Also Read: 81% of Nigerians Willing to Invest their Salaries in Cryptocurrencies -Luno

“Luno only offers the most compelling investment options, viewed through a long-term lens,” concludes Reitz. “That’s why over the coming months, customers will be able to explore and invest in more opportunities to tap into a new global financial system and participate equally.”

From today, users can buy, sell, and store ADA on the Luno app and website, alongside its existing cryptocurrency offering. Luno will also be adding SOL to its investment portfolio early next month. 

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