Instant deposits through FPX available for Luno users

Luno, the first Securities Commission (SC) approved and regulated digital asset exchange in Malaysia, has officially launched its online instant deposits feature via FPX (Financial Process Exchange) through AmBank.

Through this new transfer feature, Luno users have an option to deposit money instantly into their Luno accounts and purchase their preferred cryptocurrencies.

Luno is the first digital asset exchange to allow seamless FPX deposits in Malaysia and has now processed a total of more than RM10 million through FPX, proving a popular deposit option among its users. 

With FPX instant deposits, users are now able to seamlessly purchase Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC) on Luno since October 6.  

The instantaneous process marks a significant convenience in the process of trading cryptocurrency with Luno. Users can expect to deposit and buy digital assets without the hassle of undergoing bank transfers and other transactions. 

Aaron Tang, Country Manager of Luno Malaysia said, “There is an increasing interest in Malaysia for exploring cryptocurrencies as a type of investment. What was once a sprinkling of interest, especially among the tech-savvy youths, is now becoming mainstream among those who are looking for alternative investments. 

On our end, we are always finding ways to ease the customer experience by accommodating Malaysians’ growing interest in digital assets and allowing them to tap into trading in an efficient and hassle-free manner.”

“Working with AmBank is of utmost importance for Luno because, through FPX, we enable our customers to purchase crypto assets in a faster and easier way. We hope to cast opportunities to the wider public where a simple account sign-up on the Luno app comes accompanied with an equally easy method of depositing money, he added.

On a separate note, the Luno mobile application has an instant purchase option that gives customers a simple way to buy, sell, and store cryptocurrencies — BTC, ETH, XRP and LTC. 

Through the same application, more sophisticated traders are able to use the order book exchange feature to trade cryptocurrencies. Additionally, general educational content on cryptocurrencies is available via the mobile application and the online learning portal.

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