Malaysia

3.1% of Malaysians own cryptocurrency

How many cryptocurrency owners are there in Malaysia?

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

Malaysia – the next potential cryptocurrency hub?

Cryptocurrency exchange Luno Malaysia reported a 33% increase in active users in April 2020, while another cryptocurrency 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’ rising popularity in Malaysia

• SoyaCincau: SC gives BitcSC gives Bitcoin Cash the green light… – April 2021 Securities 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 and token utility to deliver the best cryptocurrency social experience in 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.