Luno Exchange Appoints Simon Ince as New CTO After Co-Founder Departs

• Timothy Stranex, Luno’s co-founder and chief technology officer, departed the cryptocurrency exchange in December.
• He has been replaced by Simon Ince, who joined the firm just under two years ago as its vice president of engineering.
• Luno is headquartered in London and has offices in Singapore, Cape Town, Johannesburg, Lagos and Sydney, with over 10 million customers worldwide.

Cryptocurrency exchange Luno announced in December that Timothy Stranex, the company’s co-founder and chief technology officer (CTO), had departed the firm after nearly 10 years. Stranex had been one of the four individuals who founded Luno, alongside Carel van Wyk, Pieter Heyns and current CEO Marcus Swanepoel.

Simon Ince has been appointed as Stranex’s replacement as CTO. Ince has been with Luno just under two years, joining the firm as its vice president of engineering in 2019.

Luno was established in 2013 and is based in London, with offices in Singapore, Cape Town, Johannesburg, Lagos and Sydney. It is owned by Digital Currency Group (DCG), the same parent company as CoinDesk, and the firm has over 10 million customers worldwide.

In a statement, CEO Swanepoel said: “It’s been an incredible journey with Tim and we wish him all the best with his future projects. We are fortunate to have a very experienced and talented engineering team at Luno and I’m confident that Simon will be able to continue to drive the company forward as we build on our success.”

Stranex’s departure has been described as a “mutual decision”, and the firm has released no further details about his future plans.

Luno has seen a huge surge in demand for cryptocurrency services during the pandemic, with the firm reporting a 400% increase in new customers during 2020. As the world’s leading cryptocurrency exchange, Luno is well-positioned to take advantage of the increasing demand for digital assets. Ince’s appointment as CTO will be instrumental in helping the company to continue to build on its success in the coming year.