Luno Unveils Upcoming Initiatives To Enhance User Experience, Including Localising App In BM
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(Image: The Malaysian Reserve/Razak Ghazali)

Luno Malaysia has shared that it will be rolling out several new initiatives in 2022 to provide a better user experience and to better educate its investors, including localising its app in Bahasa Malaysia. This is on top of ongoing plans to introduce new cryptocurrencies for trading on the platform next year.

Speaking in a virtual press conference today, country manager of Luno, Aaron Tang said that aside from launching new coins, the cryptocurrency exchange is also looking to enable its app in Bahasa Malaysia and introduce new financial literacy initiatives via partnerships.

“Moving forward in 2022, we will further democratise access to the cryptocurrency market by localising our application and educational resources to Bahasa Malaysia, and enhancing our financial literacy initiatives to reach a wider audience. We hope that further innovation within the industry, enhanced democratisation efforts from regulated digital asset exchanges, as well as continued governmental support for the cryptocurrency space will continue to promote a conducive environment where Malaysians can invest into digital assets efficiently and responsibly,” said Tang.

On top of that, Tang revealed that Luno is also working to make business accounts available for interested customers. This is expected to be rolled out within the first quarter of 2022.

Aside from sharing details on Luno’s upcoming initiatives, Tang also highlighted several milestones that the cryptocurrency exchange has achieved in 2021. Chief of all is the fact that Luno has seen a 233% year-on-year growth in terms of the number of onboarded customers. Specifically, the company has more than 600,000 customers as of the end of November 2021, as compared to the approximate 180,000 customers recorded at the end of November 2020.

Meanwhile, the total active customers in Malaysia grew by 518% from just over 60,000 individuals in 2020 to 371,000 persons in 2021. It was also revealed that Luno has processed over RM12 billion worth of payments in 2021 – a 4.3x increase from the previous year.

“Interest in digital assets among Malaysians continued to grow in 2021, with many investors looking to cryptocurrencies as an alternative store of value or a start to their investing journey. The increased public awareness of cryptocurrency has encouraged more people to explore cryptocurrency’s other use cases, such as a payment system and purchasing unique digital assets such as non-fungible tokens (NFT),” Tang commented, adding that he is optimistic that Luno investors can achieve their financial goals and preserve wealth via digital asset investments.

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