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Luno Malaysia Adds 11th Cryptocurrency to Its Platform,


Following the celebration of its global 10th anniversary, Luno, Malaysia’s leading regulated digital asset exchange, has announced Polygon (MATIC) as the latest crypto investment opportunity for the Malaysian market.

Starting 6 October 2023, customers can buy, sell, and store MATIC on the Luno app and website. The addition of MATIC follows the addition of Avalanche (AVAX) in May this year, and brings the total number of coin offerings for Malaysians to 11 as Luno continues to ensure that Malaysian investors can gain access to wider investment opportunities.

What Is Polygon (MATIC)?

Polygon (MATIC) aims to help make Ethereum faster and cheaper to use. It does this by acting like an express lane on a busy highway, removing congestion on Ethereum by taking transactions off the main network to be processed on Polygon and sending processed transactions back when complete.

Polygon has become one of the leading Ethereum scaling solutions, with funding from high-profile investors including Mark Cuban and Sequoia Capital. Polygon has helped global companies such as Mastercard, Starbucks, Disney, and Meta enter the web3 space. While MATIC also exists as an ERC-20 cryptocurrency on the Ethereum network, Luno only supports MATIC on the Polygon network.

“At Luno, we have consistently committed to building and investing for the long term. A major step to achieving that is to increase accessibility to a broader range of crypto offerings not only for our 840,000 customers, but all prospective investors. We firmly believe in the long-term potential of the industry, and we look forward to kickstarting the next 10 years of Luno’s journey by expanding yet another investment option for all Malaysian investors,” Scarlett Chai, Country Manager at Luno Malaysia.

Ensuring Stringent Measures and Regulation Compliance

Prior to introducing new cryptocurrencies for customers to invest in or trade, Luno conducts a thorough and rigorous process based on stringent technical, regulatory, and legal criteria. These processes are undertaken as part of best practices in prioritising safety and security, and to provide investors with peace of mind.

“The introduction of MATIC follows from close collaboration with regulators in ensuring all necessary compliance and regulatory guidelines are met. We always aim to help customers to make the best investment decisions with unbiased, reliable, and simple-to-understand information. However, we strongly encourage investors to always do their own research first before investing, so they will understand the potential risk as well as the rewards of their investments,” added Chai.

For more information, investors can stay updated via platforms such as the Luno Discover page, as well as through Luno’s Malaysia official Facebook and Instagram pages.