Luno Appoints AmBank As Main Banker In Malaysia

Luno, the cryptocurrency exchange which recently received validation and approval to operate in Malaysia, officially appointed AmBank as its primary banker for cryptocurrency exchanges in Malaysia. The exchange says that it chose AmBank because the bank had previously invested in developing the infrastructure in accordance with regulatory requirements that allow for transaction monitoring and “customised reconciliation that facilitates the seamless operations of the Luno exchange”.

Luno first arrived in Malaysia back in 2015. In 2017, the exchange ran into several issues with Bank Negara Malaysia (BNM) and was officially barred operating in Malaysia. With the Internal Revenue Board (IRB) officially freezing all accounts belonging to BitX Malaysia, Luno’s local entity at the time. The exchange itself was first established in 2013 in London, UK, and as also has offices in South Africa, Singapore, Indonesia, and Nigeria.

In any case, any and all crpytocurrency transactions made via Luno will be required to be done through the exchange’s official AmBank account that we have previously listed in our initial report. As a reminder, the exchange currently only accepts bank transfer in Malaysia, and is still working towards making transactions via debit and credit cards available in the country.

The Luno wallet app is available for download via Google Play and the Apple App Store.

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