News & Reviews:   luno

Luno Malaysia has now added two more digital assets or cryptocurrencies to their platform for local users, namely the addition of Alogrand and NEAR Protocol. With this addition, Luno now offers 20 cryptocurrencies for local users. So, what should you know about it?

Luno, one of Malaysia's cryptocurrency exchange service providers, announced the addition of five new digital assets for Malaysian users to trade. With this introduction, Luno offers 18 cryptocurrencies through its platform for local users – making it the largest in Malaysia.

In this week's TechNave Business Bytes Week 1 May 2024 we cover cybersecurity, technology advancements, business opportunities, and consumer trends. Kaspersky highlights the importance of strong passwords, while Sailpoint emphasizes robust identity security for businesses. Innovation is evident in partnerships like Lenovo and Austral Techsmith for smart cities and Luno offering new cryptocurrencies. Smart Malaysia seeks passionate individuals for EV promotion, and insureKU aims to revolutionize insurance with its digital platform. The EY survey reveals Malaysians' confidence in their energy future, but a gap exists between perception and action. Palo Alto Networks Unit 42 also found that manufacturing was the worst hit by ransomware in ASEAN and Malaysia.

Global cryptocurrency platform Luno has today revealed that Malaysia is one of its strongest markets. In a statement by Luno Malaysia country manager Aaron Tang, 12 percent of the platform's new customers in the past 6 months are based in our country.

That amounted to approximately 120,000 new customers from Malaysia in just half a year. Globally, Luno now has over 10 million customers across 40 countries, securing one million new customers worldwide in the past six months for a a 35 percent year-on-year growth.

It looks like Malaysia won’t be recognising cryptocurrency as legal tender anytime soon as despite the urging to do so by the Ministry of Communications and Multimedia (K-KOMM). Previously, K-KOMM deputy minister called crypto ‘the future of finance’ and urged for the relevant authorities to held discussions in order to legalise it.

However, the proposal was unceremoniously turned down by the Ministry of Finance (MOF) confirmed that the federal government has no intention of recognising crypto as legal tender. This was asserted by the ministry’s first deputy minister, Shahar Abdullah in the Dewan Rakyat yesterday.