Luno Cryptocurrency Wallet Proud to Relaunch in Malaysia

Inaugural launch event hosted with Luno’s CEO Marcus Swanepoel 

Kuala Lumpur, 26th November 2019 – Luno, the first cryptocurrency exchange to receive approval from The Securities Commission (SC) of Malaysia, is delighted to offer Malaysian residents access to their highly-regarded exchange, so they can manage cryptocurrencies through an approved provider.

Luno was granted full approval to operate by the SC last month but the company has a long history in Malaysia. Luno first set up operations in Malaysia in 2015. By 2017, it had become the largest digital asset exchange in the country and was heavily involved in engagements with regulators around new cryptocurrency regulations for Malaysia. After relaunching in Malaysia in late October, more than  RM 2.5 million worth of digital assets had been traded within the first 10 days. 

At the inaugural launch event attended by investors, regulators and leading figures from the Malaysia financial services sector, Marcus Swanepoel, Luno’s CEO commented: “We are seeing a revolution in global financial services with the adoption and use of cryptocurrencies but this is not going to be an overnight change. Regulators like the Securities Commission, here in Malaysia, who work with new digital assets and blockchain technology are showing real leadership in the sector. They are opening up the way for investors, traders and individuals in the country to maximise the benefits of a new financial system.”

The advantage of having a regulated and respected exchange is very clear, greater transparency and protection of consumers as well as a blueprint for further collaboration and innovation with regulatory bodies of which Malaysia serves as a pioneering case study. 

“Malaysia has always been at the forefront of cryptocurrency adoption and knows the importance of digital assets in today’s global economy.  By working with our clients we aim to make sure they can safely buy, sell and store Bitcoin and Ethereum, as well as future digital assets that are approved by the SC.  At present, a lot of digital assets are used for speculation but as their role in exchanging value between entities grows, we know they will become an integral part of business,” concluded Mr. Swanepoel.

The Luno platform is now live for all Malaysian residents and can be accessed via mobile or desk-tops via www.luno.com 

Ends 

Additional quotes: 

Quote from Chainalysis: Chainalysis is the blockchain analysis company that helps government agencies, cryptocurrency businesses, and financial institutions engage confidently with cryptocurrency.

“Secure, transparent and compliant exchanges are essential for the success of the global cryptocurrency ecosystem,” said Jason Bonds, Chief Revenue Officer, Chainalysis. “We are proud to partner with Luno to ensure they not only continue to meet global regulatory requirements but adhere to compliance best practices in Malaysia and other jurisdictions around the world.”

Quote from DCG: Digital Currency Group (DCG) has a mission to accelerate the development of a better financial system by building and supporting bitcoin and blockchain companies through their insights, network and access to capital. 

“Luno is a longtime leader in the global blockchain industry, and we are thrilled that they are now bringing a regulated, robust exchange to the people of Malaysia,” said Travis Scher, VP, Investments at Digital Currency Group. “The establishment of Luno in Malaysia demonstrates the country’s commitment to supporting emerging technology and provides a regulatory framework that enables Malaysian citizens to access digital currencies on a regulated platform. This is a great example of how lawmakers can allow their citizens to participate in this exciting technological revolution.” 

Quote from Vijay Ayyar, Head of Asia, Luno. 

“Malaysia is a strategic market for Luno, one where we have found unprecedented success in the past. We’re excited to return because we know the impact that cryptocurrencies and new forms of investment can have on Malaysian lives. The local government has also been leading the pack putting in place forward-looking regulations that embrace innovation while safeguarding users and providing clarity to the nascent crypto space.” 

Roopa Ramaiya

Head of Global PR, Luno

roopa@luno.com

+44 7974 -27634

Luno is a leading global cryptocurrency company on a mission to upgrade the world to a better financial system. With a team of over 300 and currently has its headquarters in London with regional hubs in Singapore and Cape Town.  

Luno is delighted to be ranked in the top-ten of the CryptoCompare Exchange Benchmark published on November 19th, 2019. 

With over 3 million customers (wallets) spanning over 40 countries, Luno’s products and services make it safe and easy to buy, sell, store and learn about cryptocurrencies like Bitcoin and Ethereum.