Luno, a regulated digital asset exchange in Malaysia, announced that it has surpassed 10 million customers across over 40 countries, showing a growth of 35% year-on-year in its global customer base.
The company said that it had gained an additional 1 million customers in just 6 months.
In the last year, Luno grew its customer base in Indonesia by 83%, almost doubling its customers in the region.
After hitting an all-time high market cap of US$3 trillion in November 2021, the cryptocurrency market fell to its lowest level in five months in January 2022 amidst regulation concerns and a challenging macro-economic environment.
Despite this, Luno said that it had managed to cross the US$2 trillion mark in March.
Since being founded in 2013, Luno has enabled over US$52 billion of crypto to be transacted and its customers have stored in excess of US$1 billion.
Luno added that it aims to bring crypto to over 1 billion people by 2030.
The company has over 800 employees across offices in London, South Africa, Malaysia, Indonesia, Nigeria, and Singapore, which is up 89% in the last year alone.
Marcus Swanepoel, CEO and Co-Founder of Luno said,
“There are an estimated 300 million people using crypto worldwide as of March 2022 – a figure that is expected to grow as global markets gain better access to the crypto ecosystem.
Our mission is to put the power of crypto in everyone’s hands and reaching the major milestone of 10 million customers shows we are leading the way in this transition towards building a better, fairer financial system for the world.”
Aaron Tang, Country Manager of Luno Malaysia said,
“Malaysia is one of Luno’s strongest markets, 12% of the new customers added in the last 6 months are based in Malaysia. On average Malaysians deposit MYR 100 when they open their account and tend to hold for an average of 8 months.
We also saw an increase amongst our female users which have grown from 16,000 in 2020 to more than 120,000 in 2021, an increase of more than sevenfold. This is a testament to our commitment of making cryptocurrencies accessible for everyone and we are confident the adoption of digital assets will continue to grow in coming years.”
