Luno Officially Relaunches Crypto Wallet in Malaysia

Asia Blockchain Review
December 5, 2019

Luno, a blockchain and crypto wallet services provider, revealed that the Securities Commission of Malaysia has granted approval for the company to provide a digital asset exchange, making it the first crypto wallet to be legally recognized in the nation.

Introducing Malaysia’s First Fully Approved Crypto Wallet

According to Soyacincau, Luno announced that it is now a Recognised Market Operator (Digital Asset Exchange) and is now “relaunched” in the country. Luno has already been offering its services in Malaysia since 2015 and is currently the biggest digital asset exchange in the nation.

Marcus Swanepoel, CEO of Luno, said changes are happening in Malaysia, especially among regulating bodies.

“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,” said Swanepoel.

Pioneering the Digital Asset Market in Malaysia

The Luno CEO added that regulators are playing a key role in helping companies to develop their products and services under the existing framework.

“Malaysia as a market 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 that they can safely buy, sell, and store Bitcoin and Ethereum, as well as future digital assets that are approved by the SC,” said Swanepoel.

Luno offers a platform for Malaysians to purchase, sell, and store cryptocurrencies such as Bitcoin and Ethereum.


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Blockchain Enables Verification of COVID-19 Immunity
    Given the virus is not going to disappear in a hurry and we are some time away from vaccinating the ...

    November 21, 2020

    Illicit Cryptocurrency Activity: A Concern
    Market regulators such as SEC has accepted cryptocurrencies as a financial instrument and are consta...

    November 20, 2020

    IBM Using Blockchain to Help Businesses Reopen during COVID-19
    IBM’s healthcare unit, IBM Watson recently announced that they will soon be launching an app to supp...

    November 20, 2020

    Canadian Pacific Railway Collaborates with TradeLens
    Canadian Pacific Railway recently collaborated with TradeLens in a bid to improve its efficacy as an...

    November 19, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us