Luno said that the addition of popular alternative coins (altcoins) like Ripple could further spur the cryptocurrency market.
Ripple was created by Ripple Labs Inc., a US-based currency exchange founded in 2012. It’s a cryptocurrency used by the Ripple payment network. XRP is built for enterprise use and aims to be a fast, cost-efficient cryptocurrency for cross-border payments.
After Bitcoin and Ethereum, Ripple has the third-largest capitalisation of USD9.2 billion (~MYR38.3 billion).
Ripple is a cryptocurrency that has been approved by the Securities Commission Malaysia (SC), although not yet listed on Luno.
Luno said it uses an array of criteria to evaluate cryptocurrencies including compliance, security, utility and market traction.
Luno is the first cryptocurrency exchange in the country that is a Recognised Market Operator (Digital Asset Exchange)—allowing Malaysian investors to trade Bitcoin (BTC) and Ethereum (ETH) in Malaysian Ringgit (MYR).
At time of posting, XRP was priced at MYR0.90. Its all-time high price is MYR15.88.