Luno has added two new cryptocurrencies, Algorand (ALGO) and NEAR Protocol (NEAR), to its list of approved digital assets in Malaysia, following authorisation by the Securities Commission Malaysia (SC). This marks the first batch of digital assets to receive regulatory approval in the country this year, expanding Luno’s offerings to a total of 20.

The move is part of Luno’s broader strategy to increase investor access to a diverse range of cryptocurrencies within a secure, regulated environment. By offering a wider selection of assets, the platform aims to empower Malaysians to explore the evolving digital asset ecosystem and diversify their investment portfolios.

Algorand is a low-cost, eco-friendly blockchain designed to enable fast and scalable decentralised applications (dApps), supporting a vision of a borderless digital economy. NEAR Protocol, meanwhile, is a high-throughput, developer-friendly blockchain focused on decentralisation and sustainability, offering tools for efficient dApp development and low-cost transactions.

Scarlett Chai, Luno’s Country Manager for Malaysia, highlighted the firm’s ambition to accelerate digital asset growth locally. “In 2024, Luno led the approval of seven digital assets with the Securities Commission Malaysia. We aim to double that this year, starting with these two digital assets. The team is actively engaging the regulator to launch new digital assets expeditiously,” she said.

Chai also noted that the addition of these two coins not only enhances the platform’s offerings, but comes on the heels of Luno surpassing one million customers in Malaysia, reinforcing its position as the country’s leading regulated digital asset exchange.

In tandem with the launch, Luno will be expanding its Staking feature to include NEAR Protocol in the coming weeks, offering customers up to 7% per annum in passive staking rewards, earned daily. This follows the recent addition of Polkadot to its staking services.

“Our recent staking launch of Polkadot and the upcoming NEAR Protocol reaffirm Luno’s commitment to growing Malaysia’s digital asset landscape by not only making digital asset investments a safe and accessible option, but also being innovative by enabling our customers to grow their holdings,” added Chai.

Luno remains the only regulated digital asset exchange in Malaysia offering staking services for Ethereum, Solana, Cardano, Polkadot, and soon, NEAR. The company follows a comprehensive and stringent evaluation process before listing any asset, assessing technical, regulatory, and legal factors to ensure investor safety.

In line with its commitment to responsible investing, Luno encourages users to conduct thorough research and exercise sound judgement. Its educational platform, Luno Discover, provides open access to impartial information to support informed financial decisions.

• TAGS:
• ALGO
• Algorand
• Digital Assets
• Luno
• Luno Discover
• NEAR
• NEAR Protocol
• Scarlett Chai
• Securities Commission Malaysia
• Staking