LUNO MALAYSIA ACHIEVES RM1 BLN DIGITAL ASSET UNDER CUSTODY IN MALAYSIA

KUALA LUMPUR, April 15  -- Luno, the first Securities Commission-approved digital asset exchange, has managed more than RM1 billion digital assets, a new milestone since its relaunched in Malaysia in 2019. 

In a statement today, it said Luno Malaysia's digital assets under custody comprise four approved cryptocurrencies, namely Bitcoin, 62 per cent; Ethereum, 23 per cent; Ripple, 10 per cent; and Litecoin, 5.0 per cent.

Luno said it gained over 300 per cent quarter-on-quarter customer growth in Malaysia with an influx of new users at the end of 2020 and now has 588,994 verified users in the country, amounting to RM3.97 billion in total transactions, as at January 2021.

bootstrap slideshow

Luno Malaysia country manager Aaron Tang said 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 a start to their investing journey. 

"When we relaunched in Malaysia in 2019, our aim was not only to provide Malaysians with a safe and convenient platform to buy, sell, and hold cryptocurrencies but also to educate them about this exciting technology," he said. 

On the global market, Luno said the company has reached a milestone of seven million customers, representing over 300 per cent year-on-year growth in the number of application installs with over RM34 billion transacted.

"Since Luno’s acquisition by Digital Currency Group (DCG) in September 2020, Luno has seen the number of active global users increased by 167 per cent, while the number of app installs rose 119 per cent.

"As of January 25, 2021, the average Luno user held over US$7,000 in their wallet, up 56 per cent from Dec 30, 2020," it added.

-- BERNAMA