22nd November 2024 - 2 min read
Luno has introduced Luno Bundles, a new feature designed to help customers easily diversify their cryptocurrency investments. This enables users to maintain a balanced portfolio of top cryptocurrencies.
In collaboration with CoinDesk Indices, Luno Bundles’ first offering tracks the CoinDesk Large Cap Select Index (DLCS). This index is specifically designed to represent the overall crypto market by including 5 to 10 of the largest cryptocurrencies by market capitalisation. The bundle automatically updates its composition and weightings every three months to stay in line with changes made to the DLCS by CoinDesk Indices.
Scarlett Chai, Country Manager for Luno Malaysia, emphasised that the launch of Luno Bundles represents a significant step towards making cryptocurrency investments more accessible to the general public. She said the new offering reduces barriers for those looking to explore digital asset diversification.
“With Bitcoin recently breaking its all-time high, we foresee growing interest in the cryptocurrency market coming from all walks of life; hence, this timely partnership with CoinDesk Indices ensures our customers can invest with data-led methodology easily and securely,” she said.
Alan Campbell, President of CoinDesk Indices, underlined the growing investor appetite for diversified options beyond single cryptocurrencies like Bitcoin. He explained that offering a portfolio of top-performing assets allows users to gain more balanced exposure to the rapidly expanding crypto ecosystem.
The new Luno Bundles feature is specifically designed for the Malaysian market, incorporating only digital assets that adhere to CoinDesk’s stringent eligibility standards as well as tokens approved by the Securities Commission of Malaysia. Luno Bundles is also flexible, enabling customers to customise their investments by “bundling” or “unbundling” any amount through the Luno app or website. Once set up, users can seamlessly monitor their portfolio’s performance directly within the app.
Luno Bundles can be found under the “Explore” tab in the app or on the website.
Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world
Comments (0)