The developer of the crypto exchange Luno opens a division to finance Web3 startups.
The company announced the launch of an investment arm, Luno Expeditions, to support fintech and cryptocurrency startups around the world. The division aims to fund 200 to 300 Web3-related startups annually, as well as expand its influence in the wider fintech space.
According to the announcement, the fund expects to invest between $50,000 and $250,000 and earn between $15 and $75 million a year. This means that the investment will eventually reach between $50 million and $300 million. It is noteworthy that five girls will be involved in the project, and it will be led by the company’s CEO Jocelyn Cheng. Previously, she headed the Global Innovation Fund investment fund for six years:
“There are very few young and truly global fintech funds in the world. Now we have a great opportunity to create one of these. There comes a time when the crypto business is expanding to the point where it enters the space of traditional fintech companies. We are confident that if we help young companies get on their feet, they will achieve stunning success.”
Recall that in May last year, the UK Advertising Standards Authority (ASA) banned advertisements about bitcoin, which were placed by Luno in the London Underground. The regulator said that there were four complaints regarding the exchange.
Source: Bits

Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.