PETALING JAYA: Luno, a cryptocurrency exchange, has achieved almost US$1bil (RM4.2bil) in total transactions on its platform in Malaysia so far this year.
Luno Malaysia country manager Aaron Tang (pic) said more people are accepting cryptocurrencies as an asset class, as a payment method, a store of value and a hedge against inflation.
In 2020, Luno Malaysia saw a total transaction of US$300mil (RM1.23bil) on its platform.
“We believe cryptocurrency adoption is still at its early stage. According to some research, only about 2.5% of the world population own cryptocurrencies, ” he said at a briefing.
Luno Malaysia is currently storing more than RM1bil digital assets including bitcoin, ethereum, ripple and litecoin.
Luno sees RM4 11b of transactions so far this year
thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
Luno bullish on digital assets potential in Malaysia
theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Tuesday, 04 May 2021 07:43 AM MYT
BY ALEXANDER WONG
Luno is among the three approved Digital Asset Exchanges in Malaysia which are authorised to perform cryptocurrency trading. SoyaCincau pic
Subscribe to our Telegram channel for the latest updates on news you need to know.
KUALA LUMPUR, May 4 Luno Malaysia will soon support Bitcoin Cash (BCH) following its approval by the Securities Commission (SC) Malaysia.
BCH is Malaysia’s 5th approved cryptocurrency after Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC).
According to Luno’s teaser, users in Malaysia will soon be able to buy, trade and store BCH on its platform. However, no dates were mentioned. At the time of writing, BCH is priced at RM4,178, while BTC is priced at RM240,133.
Relaunched Luno grows its digital assets management in Malaysia By Digital News Asia April 21, 2021
Luno reached 588,994 verified users in Malaysia
Globally, achieved 7 million customers with claimed US$8.23 billion transacted
DIGITAL asset exchange Luno has claimed to manage more than US$242 million (RM1 billion) of digital assets in Malaysia, a milestone achieved in less than two years.
This comes after being relaunched in 2019 as the country’s first Securities Commission-approved digital asset exchange, the company said in a statement.
[RM1 = US$0.242]
Luno Malaysia’s digital assets under management comprises four approved cryptocurrencies Bitcoin (BTC), 62%; Ethereum (ETH), 23%; Ripple (XRP), 10%; and Litecoin (LTC), 5%.