Luno Launches Two New Coins

Luno has just expanded its list of digital assets with the launch of two new coins, Algorand and NEAR Protocol. This launch is also the first batch of digital assets approved by the Securities Commission Malaysia this year for both Luno and the country.

With the launch of these latest coins, Luno’s digital offerings in Malaysia has now reached 20, thus allowing investors to explore more of the crypto ecosystem and diversify their portfolios safely and securely.

Algorand and NEAR Protocol

Some of the key features of the new coin listings include:

Algorand (ALGO): Algorand is an eco-friendly blockchain enabling fast, low-cost transactions and scalable, secure decentralised applications (dApps), aiming for a sustainable, borderless digital economy.

NEAR Protocol (NEAR): 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.

“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,” said Scarlett Chai, Luno’s country manager for Malaysia.

Chai also mentioned that Luno has recently achieved a milestone, surpassing 1 million customers, thus reinforcing Luno’s position as a leading regulated digital asset exchange in Malaysia.

Luno to include NEAR Staking

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.

Luno is currently Malaysia’s only regulated digital asset exchange. This puts it in a unique position to provide customers with staking services for Ethereum, Solana, Cardano, Polkadot, and soon, NEAR Protocol.

The platform undertakes a comprehensive screening process when adding new assets for customers to invest in or trade based on stringent technical, regulatory, and legal criteria.

However, it should be noted that Luno always recommends that customers do their research and exercise sound judgement when investing in digital assets. The investment market is always changing and can never be completely predictable. As such, caution is advised so that customers make informed judgments when it comes to investing.