KUALA LUMPUR (April 13): Global cryptocurrency platform Luno has gained more than 10 million customers across 40 countries, and Malaysia is one of its strongest markets as 12% of its new customers over the past six months are based in the country.
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Luno Malaysia country manager Aaron Tang said on average, Malaysians deposit RM100 when they open an account and tend to hold on for an average of eight months.
“In the past year, 32% of new customers bought Bitcoin, while 23% bought Ethereum,” he said in a statement on Wednesday (April 13).
He noted that the number of female users in Malaysia had grown more than sevenfold in the past year, rising from 16,000 in 2020 to more than 120,000 in 2021.
In the past six months, Luno had secured one million new customers, and its customer base had grown 35% year-on-year.
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It said that as of March 11, 2022, the average holding time for a Luno user was over seven months, and it noted that users in South Africa, the company’s most active market, had the longest holding time at an average of 10 months.
Meanwhile, in the past 12 months, Singaporean users had the highest value of first deposits at US$76 (about RM321.21), compared to Nigeria, one of Luno’s biggest markets that recorded an average first deposit of US$10.
Since its launch in 2013, Luno has enabled over US$52 billion of cryptocurrency to be safely transacted and its customers have stored in excess of US$1 billion.
“Luno aims to bring crypto to over one billion people by 2030, and there is incredible demand for cryptocurrencies in many emerging and frontier markets.
“In the last year, Luno grew its customer base in Indonesia by 83%, almost doubling its customers in the region, and provided one million more South Africans with access to cryptocurrencies for the first time,” it added.-BERNAMA