Luno Malaysia adds Algorand and NEAR Protocol to its digital asset offerings
PETALING JAYA: Luno Malaysia has expanded its list of digital assets with the launch of two new coins – Algorand and NEAR Protocol.
The launch is also the first batch of digital assets approved by the Securities Commission Malaysia this year for both Luno and the country. The two new coins bring Luno's digital asset offerings in Malaysia to 20. The widened
offering enables investors to explore more of the crypto ecosystem and diversify their portfolios safely and securely.
Algorand is an eco-friendly blockchain enabling fast, low-cost transactions and scalable, secure decentralised applications (dApps), aiming for a sustainable, borderless digital economy while NEAR Protocol is a fast, scalable blockchain with low-cost transactions, high throughput, and user-friendly tools for dApp development, focused on decentralisation and sustainability.
Luno country manager for Malaysia, Scarlett Chai, said, 'In 2024, Luno led the approval of seven digital assets with the Securities Commission Malaysia. We aim to double that this year, starting with these two digital assets. The team is actively engaging the regulator to launch new digital assets expeditiously/'
She said the addition of two new digital assets expands the platform's total assets to 20, while the recent milestone of surpassing one million customers reinforces Luno's position as Malaysia's leading regulated digital asset exchange.
In addition to the launch of ALGO and NEAR, Luno is broadening its Staking feature to include NEAR in the coming weeks. NEAR Staking would allow customers to earn up to 7% per annum in passive rewards, which are earned daily.
'Our recent staking launch of Polkadot and the upcoming NEAR Protocol rearm Luno's commitment to growing Malaysia's digital asset landscape by not only making digital asset investments a safe and accessible option, but also being innovative by enabling our customers to grow their holdings,' said Chai.
Today, Luno is the country's only regulated digital asset exchange, providing customers with staking services for Ethereum, Solana, Cardano, Polkadot and, soon, NEAR Protocol.
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