Luno intends to offer more cryptocurrency options by 2022 in addition to existing assets: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH).
The cryptocurrency exchange, which is legally operating in Malaysia, is expected to launch less than 10 cryptocurrencies and is reportedly still in the process of getting approval from the Securities Commission Malaysia.
However Luno did not disclose which assets were preferred.
Luno Malaysia Manager, Aaron Tang revealed that this decision was based on the request of the majority of its users:
"We hope this decision will encourage consumers to use legitimate platforms and help the growth of the ecosystem in a safe and responsible way."
Interestingly, the Luno application will also be available in Malay and will be followed by other languages, including more educational materials related to crypto assets.
For the record, Luno Malaysia saw high demand for cryptocurrencies, increasing by over 600,000 users at the end of November 2021.
Indirectly, the record increased over 233% year -on -year (YOY) from a record 180,000 users the previous year.
Meanwhile, the number of active users of Luno Malaysia increased by 518% YOY from a record around 60,000 (2020) to 371,000 (2021).
For the record, Luno is headquartered in London with several hubs around the world such as Malaysia, Singapore, and Cape Town.
