Luno to open head office in KL in Q1 2019

PETALING JAYA: Digital currency exchanger Luno will be opening a head office in in the first quarter of 2019 after seeing positive development in the cryptocurrency industry in .

“This centre is expected to generate up to 50 high-skilled jobs within 2019 alone and will house Luno’s world-class customer success team to support not only consumers in Southeast Asia, but also address the needs of Luno users across Europe and Africa,” it said in a statement today.

Luno said the decision was made after Finance Minister Lim said in Budget 2019 that the government will set up a new regulatory framework to approve and monitor digital coins and token exchanges.

“This means that cryptocurrency exchanges in Malaysia will be licensed and regulated under the purview of the Securities Commission. Luno welcomes this positive news from the forward-thinking government that understands the importance of embracing new, disruptive technologies.”

Luno, one of the largest digital currency exchangers in Malaysia, allows the trading of the two largest digital currencies – bitcoin and ethereum – on its platform. Its headquarters is in London with regional hubs in and Cape Town.

It highlighted that the company will continue to invest heavily in Malaysia, both in terms of foreign direct investment and developing a skilled workforce.

“Over the next five years, Luno expects to potentially inject more than RM 25 million into the Malaysian economy, creating over 100 high-skilled jobs.”

Luno’s head of Southeast Asia David Low believes that the cryptocurrency industry holds tremendous promise for Malaysia and the company looks forward to helping position Malaysia as the leader of digital revolution in Southeast Asia.

Source: The Sun Daily

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