Malaysia

3.1% of Malaysians own cryptocurrency

How many cryptocurrencies owners are there in Malaysia?

It is estimated that over 1.0 million people, 3.1% of Malaysia’s total population, currently own cryptocurrency.

Malaysian – next potential cryptocurrencies hub?

Cryptocurrencies exchange Luno Malaysia reported a 33% increase in active users in April 2020, while another cryptocurrencies exchange Tokenize reported a 30-40% average daily increase in trading in early April 2020.

Are Malaysians open to cryptocurrencies?

The survey conducted in early 2019 indicates there is already a high level of awareness of cryptocurrencies in Malaysia (84%), while almost half of Malaysians (46%) expressed interest in investing in cryptocurrencies in the future.

Cryptocurrencies’s rising popularity in Malaysia

• SoyaCincau: SC gives BitcSC gives Bitcoin Cash the green light… – April 2021Securities Commission (SC) has provisionally approved Bitcoin Cash (BCH) as a digital asset in Malaysia. This means Malaysians will soon be able to buy or sell BCH on authorised cryptocurrency platforms. It also brings the total authorised cryptocurrencies tokens to 5 which include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC)
• Fintechnews: Malaysian Founded Cryptocurrencies Social Media Platform Torum Raises US$ 1.45 Mil  – April 2021
  A social media platform specially designed for cryptocurrency users, announced that it had secured US$ 1.45 million during a private funding round. Launched on the 1st of July 2020, Torum emphasises gamification elements and token utility to bring the best cryptocurrencies social experience to the space.
• Malaysian Securities Commission issues revised digital asset guidelines – October 2020
  These are intended to regulate initial exchange offerings, or IEOs, and digital asset custodians.