Luno to bring Ripple’s XRP trading in Malaysia by early 2020

  • XRP is not only a trading instrument but also a cross-border remittance digital currency according to Luno GM David Low.
  • Luno is focusing on customer safety and regulatory compliance.

The cryptocurrency trading platform, Luno Malaysia is set to add support for Ripple’s XRP trading at the beginning of 2020. The company considers XRP a viable asset as it has been approved by the Securities Commission (SC). The head of Luno Asia, Vijay Ayyar said in regards to the impending support:

“So it is definitely a possibility we are exploring. However, it is not yet listed on Luno. What we can say at this time is that we are planning to increase our cryptocurrency offerings as we grow, while keeping customer’s safety and compliance with regulations as our highest priority.”

Luno believes that XRP is experiencing high demand in the country not just as a trading asset but for cross-border transfers. Introducing XRP will have a positive impact on the market as it trades alongside Bitcoin and Ethereum.

Luno South-East Asia GM David Low told the Malaysian Reserve (TMR) that:

“Ripple also has a remittance use case which we are excited about. That’s why we want to introduce it to Malaysians, as it allows people on the platform to access and learn about it, and figure out new ways to use this technology for their benefits.”

In the meantime, XRP is exchanging hands at $0.21 after a subtle 0.8% loss on the day. The declines are not unique to XRP as Bitcoin is down 0.73% while Ethereum is trading 0.66% lower.

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