Kuala Lumpur, 5th May 2021 — Luno announced today that it is the first Securities Commission-approved digital asset exchange in Malaysia to offer Bitcoin Cash (BCH) for trading on its platform. After the recent announcement of Bitcoin Cash as the fifth approved digital asset in Malaysia by the Securities Commission, from today onwards,
Malaysians can buy, sell, and learn about Bitcoin Cash on Luno. Bitcoin Cash is now part of Luno’s growing list of digital asset offerings in Malaysia which includes Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC).
Bitcoin Cash was launched in August 2017 due to a fork, a community-activated update to the protocol or code, of the original Bitcoin blockchain. The main motive of the fork was to increase the block size in the blockchain from 1MB to 32MB to facilitate faster transactions. As a result, Bitcoin Cash is regarded by some as a faster and cheaper system alternative to Bitcoin.
Similar to Bitcoin, Bitcoin Cash has a maximum supply of 21 million with more 18 million in current circulation. Bitcoin Cash is one of the most widely traded cryptocurrencies in the world with a market capitalization of USD18,767,589,942.
Speaking about the introduction of Bitcoin Cash on Luno, Aaron Tang, Luno Malaysia Country manager said, “As more Malaysians get involved in cryptocurrency, Bitcoin Cash adds another option to diversify their portfolio.
On top of that, Bitcoin Cash is in the top 15 of the most traded cryptocurrency globally. We only list safe, reputable digital assets that have the utility benefits our customers want, which is why we have introduced Bitcoin Cash after seeking approval from the Securities Commission Malaysia.
We hope the introduction of Bitcoin Cash on our platform will inspire Malaysian users to explore cryptocurrency further and learn about the benefits they offer, be it for trading or investment.”