KUALA LUMPUR (April 14): 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%; Ethereum, 23%; Ripple, 10%; and Litecoin, 5.0%.
Luno said it gained over 300% 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.
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% 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%, while the number of app installs rose 119%.
“As of January 25, 2021, the average Luno user held over US$7,000 in their wallet, up 56% from Dec 30, 2020,” it added.
