Luno Launches Ripple (XRP) Trading in Malaysia

Luno Launches Ripple (XRP) Trading in Malaysia

by March 2, 2020

Luno, a digital asset exchange license by the Securities Commission Malaysia announced today the that Ripple (XRP) will be made available on their cryptocurrency exchange platform starting tomorrow, 3rd March 2020.

In Malaysia, the platform currently only allows the trade of Bitcoin (BTC) and Ethereum (ETH), citing the growing demand Ripple, Luno said it decided to introduce this digital asset to the platform.

Ripple (XRP) the third-largest digital asset with a current market value of US$12.5 billion.

Marcus Swanepoel

Marcus Swanepoel

Marcus Swanepoel, Luno CEO, commented:

“We have always limited the number of coins we offer, only listing digital currencies which have liquidity, are secure and have the utility which will benefit our clients. XRP demonstrates the benefits that blockchain based assets can offer. Year 2020 looks as though it will be another very important year for the sector as more and more people use digital coins as part of the day-to-day finances.”

 

 

Ripple was launched in 2012 and is designed to facilitate cost-free cross-border transactions. In Malaysia, both MoneyMatch and CIMB use Ripple to power some of its remittance corridors.

“Ripple is a perfect fit with Luno and the other digital assets we offer as it is the first digital currency to be adopted by mainstream financial institutions. Offering Ripple on the Luno exchange has potential benefits for thousands of Luno users, especially those in developing markets, who rely on cryptocurrencies to handle money into and out of their businesses.”

adds Marcus.

To celebrate the introduction of this important coin to the Luno exchange, all users will be able to trade with a reduced fee for the first 30 days of XRP.

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