Luno, the first cryptocurrency exchange to receive approval from The Securities Commission (SC) of Malaysia, is delighted to be able 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.

“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.”

Marcus Swanepoel, Luno’s Chief Executive Officer and co-founder

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.

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