Luno’s RM1bil digital asset milestone


According to Luno Malaysia country manager Aaron Tang, (pic) the interest in cryptocurrency has been on an upward trend in Malaysia with many investors looking to cryptocurrencies as an alternative store of value or as a start to their investing journey.

KUALA LUMPUR: Luno, the first Securities Commission-approved digital asset exchange, has managed more than RM1bil digital assets, a new milestone since its relaunched in Malaysia in 2019.

Luno Malaysia’s digital assets under custody comprises four approved cryptocurrencies, namely bitcoin, 62%; ethereum, 23%; ripple, 10%; and litecoin, 5%.

Luno said in a statement that it gained over 300% quarter-on-quarter customer growth in Malaysia with an influx of new users at the end of 2020. It has 588,994 verified users in the country, amounting to RM3.97bil in total transactions, as at January 2021.

According to Luno Malaysia country manager Aaron Tang, (pic) the interest in cryptocurrency has been on an upward trend in Malaysia with many investors looking to cryptocurrencies as an alternative store of value or as a start to their investing journey. — Bernama

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