In a recent online media session, Malaysia's first cryptocurrency exchange platform, Luno revealed that it has processed domestic transactions worth more than RM827 million since its re-launch in 2019.
According to Luno Malaysia manager Aaron Tang, cryptocurrency investments are seen to be thriving in Malaysia as most investors begin to understand cryptocurrency as a valuable storage asset or the beginning of their investment.
An estimated 68% of consumers buy cryptocurrencies with the intention of making investments with the majority ranging from 30 to 49 years old.
Records from April to September 2020 show that Luno managed to reach over 180,000 users and over 90% of the local digital asset exchange stock market.
Luno has saved more than RM165 million which includes four approved cryptocurrencies namely Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC).
London-based Luno is also owned by Digital Currency Group (DCG) New York starting September 2020.
The DCG combination brings hope towards a better financial system while making cryptocurrencies safe and easy to buy, store and learn.
Not only that, Luno also collaborated with blockchain intelligence firm, IntoTheBlock with the aim of improving the display of trading in desktop applications, including introducing stop-limit and market orders.
