Luno, a leading regulated digital asset platform operating across multiple emerging markets, has acquired GTXN, a cross-border payments company, and named Dan Kleinbaum as its chief executive officer. GTXN gives Luno the licensed rails to collect and pay out money across the corridors that link developed and emerging markets, offered to enterprise clients as a single settlement flow.
Cross-border payments have become one of the defining problems in financial services, and enterprise demand for quicker, cheaper ways to move money between markets keeps climbing. The hard part sits in the corridors that connect developed economies to emerging ones. Correspondent banking rails move slowly. Local licensing has to be won market by market, and the payment infrastructure on the ground is often thin, which keeps the whole category expensive and underserved long after the technology to fix it exists.
Luno has spent more than a decade building standing in these same markets. It holds regulatory approvals across its core regions and runs deep liquidity, with a brand that banks and enterprises already trust. The GTXN acquisition brings licensed collection and payout infrastructure inside that footprint. For a client, the effect is simple: money moves in and out through one provider, over rails the group now owns and settled against Luno’s liquidity. GTXN operates as the group’s cross-border payments capability.
Dan Kleinbaum takes over as chief executive of GTXN. He brings more than a decade of experience building payments infrastructure in emerging markets. He co-founded Beyonic, a mobile-money platform that operated across seven African markets and was acquired by Onafriq, formerly MFS Africa, in 2020.
Kleinbaum went on to build an FX and cross-border treasury business serving corporates and institutions in East Africa.
“Moving money between developed and emerging markets is still too slow and too expensive, and our clients feel it every day,” said James Lanigan, chief executive officer of Luno. “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.”
“I have spent my career making payments work in markets the rest of the world finds hard to reach,” said Kleinbaum. “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.”