Malaysian digital asset exchange Luno announced that it had garnered more than 600,000 customers at the end of November 2021.

Luno said in a statement that this is a marked increase of over 233% year-on-year (YoY) from around 180,000 customers recorded at the end of November 2020.

Its total active customers in Malaysia has grown by 518% YoY from just over 60,000 in 2020 to 371,000 in 2021.

The company also processed over RM12 billion worth of payments in 2021, a 4.3X increase from the previous year.

At the same time, Luno stores more than RM2 billion in value on behalf of its customers across five approved digital assets namely Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH).

Luno added that moving forward in 2022, it will further democratise access to the cryptocurrency market by localising its app and educational resources to Bahasa Malaysia as well as enhance its financial literacy initiatives to reach a wider audience.

Aaron Tang, Country Manager, Luno Malaysia said,

“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.

 

Hence, we remain optimistic that our customers can achieve their financial goals of growing and preserving their wealth through investing in digital assets.”