After celebrating its 10th anniversary as Malaysia’s leading regulated digital asset exchange, Luno has announced that it will be adding Polygon (MATIC) to its list of available cryptocurrencies.
Starting from 6 October onwards, customers can buy, sell, and store MATIC using the Luno app and website.
The addition of MATIC comes after the platform had added Avalanche (AVAX) earlier this year, bringing the total number of coins available to Malaysian investors to eleven. Other coins that can be traded at Luno include Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).
What is Polygon (MATIC)?
Polygon was developed to 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.
Receiving funding from high-profile investors such as Mark Cuban and Sequoia Capital, Polygon has quickly become one of the leading Ethereum scaling solutions and has helped companies such as Mastercard, Starbucks, Disney, and Meta to enter the web3 space.
“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.” Luno Malaysia Country Manager Scarlett Chai said in a press release.
It should be noted that Luno only supports MATIC on the Polygon network even though it is also available as an ERC-20 token on the Ethereum network.
