Luno, a regulated digital asset exchange in Malaysia, announced that it is adding two more cryptocurrencies to its platform: Cardano (ADA) and Solana (SOL), further expanding their range of investible digital assets.
From 21 September, users in Malaysia can buy, sell, and store ADA on the Luno app and website, alongside its existing cryptocurrency offering.
Luno will also be adding SOL to its platform from 6 October.
With continuing interest in the wider applications of Bitcoin, ADA and SOL are the latest cryptocurrencies that Luno is adding to its portfolio, following the addition of Chainlink (LINK) and Uniswap (UNI) earlier this year. This brings the total number of coin offerings for Malaysians to nine, as Luno continues ensuring that Malaysian investors gain access to wider investment opportunities.
“As big advocates of building for the long term, we believe it’s important to give customers access to newer crypto applications that have a promising future. In a constantly evolving crypto landscape, we want to empower financial literacy amongst Malaysians by promoting a stronger understanding of digital assets and investment. More importantly, we want our investors to be able to progress in their crypto journey with Luno with the peace of mind that comes with the rigorous security that customers rely on from Luno”, Luno Country Manager Aaron Tang said.
“We want to break down the complications around cryptocurrencies, and provide a platform that makes it easy for people to invest and learn about them. Investors don’t need to make one large investment to get started but can build and grow their investment over-time through smaller amounts – the minimum amount to get started investing on Luno is only RM 1”, Tang added.
Cardano is often described as a ‘next gen evolution’ of Ethereum. It aims to be the most scalable and sustainable platform for running decentralised applications (dApps) by taking a methodical, research-driven approach to its development. Solana is the fastest blockchain in the world and the fastest growing ecosystem in crypto, with thousands of projects spanning decentralised finance (DeFi), non-fungible tokens (NFTs), Web3 and more.
According to Tang, while ADA and SOL meet Luno standards for safety, being listed on Luno is not an endorsement of its future potential as an investment. “Luno assesses prospective assets based on factors like security, compliance, and utility, but will always suggest that anyone looking to invest in crypto do the necessary research and exercise good judgement before investing. Luno only offers the most compelling investment options, viewed through a long-term lens. Over the coming months, customers will be able to explore and invest in more opportunities to tap into a new global financial system and participate equally.”
As part of the launch of the new coins, investors will be able to enjoy 50% off Instant Buy and Sell, in addition to reduced Luno Exchange fees for Cardano from 21 September – 20 October 2022 and Solana from 6 October – 7 November 2022. For more details on the promotion, please refer to Luno’s fees and features page.