KUALA LUMPUR: Cryptocurrency exchange Luno has seen a 32 per cent jump in transaction volume this year with heightened interest in cryptocurrencies, especially following the election of pro-cryptocurrency US president Donald Trump.
Luno country manager for Malaysia Scarlett Chai said Malaysians are increasingly viewing digital assets like cryptocurrencies as a means of diversifying their investment portfolio.
She said total transaction volume on its platform is now over RM87 billion, in a clear sign of confidence in the growing crypto market.
Assets under custody for both digital assets and ringgit have more than doubled, to RM 4.28 billion from last year.
Luno has processed more than 72 million transactions in total, encompassing the deposit and withdrawal of ringgit and the buying, selling, sending and receiving of digital assets.
Chai said the heightened interest has been seen across all age and income groups, with the average investor aged 34.8 and a median deposit of RM100.
"Our customers also came from a diverse array of industries - manufacturing, construction, engineering and education sectors.
"In an encouraging development for gender parity in the industry, we also saw a 17 per cent increase in female customers this year, compared with a 14 per cent increase in male customers," she added.
Luno, a cryptocurrency investment app, was founded in 2013, has introduced over 13 million people to crypto.
It is available in more than 40 countries across Europe, Africa, Asia and Australia.
In Malaysia, Luno is the first regulated and leading digital assets exchange under the Securities Commission Malaysia.