Luno Acquires Kenyan Payments Startup GTXN

South African digital asset platform Luno has acquired Kenyan cross-border payments company GTXN in an undisclosed deal, adding licensed payment infrastructure to its growing business services offering.

GTXN provides collection and payout services that connect developed and emerging markets. Following the acquisition, it will operate as Luno’s cross-border payments arm, giving enterprise clients a single route to collect and send funds across supported markets.

The deal gives Luno greater control over the payment process. Instead of businesses relying on several banks and intermediaries to move money between markets, transactions can run through GTXN’s licensed infrastructure and settle against Luno’s liquidity.

Luno Moves Further Into Business Payments

Cross-border payments remain difficult for businesses operating between developed and emerging markets. Transfers can pass through multiple intermediary banks, with each stage potentially adding fees, foreign exchange costs, compliance checks and delays.

Luno has spent more than a decade building its regulatory and liquidity infrastructure across emerging markets. The acquisition allows the company to add payment collection and payout capabilities to that existing footprint.

For businesses, the aim is to bring more of the transaction into one flow rather than requiring separate providers for collection, settlement and payout. GTXN's infrastructure will now form part of Luno's broader payments operation. 

The acquisition also extends Luno's activities beyond its traditional role as a digital asset platform. The company has been expanding its institutional and business-focused services, including stablecoin and wallet infrastructure and settlement services.

Dan Kleinbaum to Lead GTXN

Dan Kleinbaum, GTXN's co-founder, will remain as chief executive following the acquisition.

Kleinbaum has spent more than a decade building financial infrastructure in emerging markets. He previously co-founded Beyonic, a mobile-money platform that operated across seven African markets before it was acquired by Onafriq, formerly MFS Africa, in 2020.

He later founded GTXN, building the company around foreign exchange and cross-border treasury services for corporates and institutions in East Africa. GTXN is also licensed in Kenya as a fund manager.

Kleinbaum said his experience has focused on making payments work in markets that are difficult to serve through traditional financial infrastructure.

The acquisition gives him access to Luno's existing regulatory footprint and liquidity as GTXN expands its cross-border payments offering.

Building a Single Payment Flow

Luno CEO James Lanigan said the company has spent years building the licences, market relationships and liquidity needed to operate across emerging markets, while GTXN brings licensed collection and payout infrastructure for enterprise clients. The acquisition will allow businesses to collect and move funds between developed and emerging markets through a single payment flow.