Thursday, 23 May 2024

Luno expands cryptocurrency offering - adding Cardano and Solana to its app

5 min read

Luno, the global cryptocurrency investment app that aims to put the power of crypto in everyone’s hands, has today announced it is adding two more cryptocurrencies to its app: Cardano (ADA) and Solana from early October (SOL).

Users can now buy, sell, and store ADA on the Luno app and website, alongside its existing cryptocurrency offering. Luno will also be adding SOL to its platform early next month.

With continuing interest in the wider applications of Bitcoin, ADA and SOL are the latest cryptocurrencies that Luno is adding to its portfolio, following the addition of Chainlink (LINK) and Uniswap (UNI) earlier this year. Luno wants to ensure its ten million+ customers have access to these wider investment opportunities.

“Luno’s endeavour is to offer the most compelling investment options, viewed through a long-term lens. The newest addition of ADA and SOL is in line with our goal of providing customers access to global investment opportunities so everyone can participate equally. Expanding our portfolio goes hand in hand with providing a safe and secure experience on our app”, said Vijay Ayyar, Vice President Corporate Development & Global Expansion, Luno.

Cardano is often described as a ‘next gen evolution’ of Ethereum. It aims to be the most scalable and sustainable platform for running decentralised applications (dApps) by taking a methodical, research-driven approach to its development. Solana is the fastest blockchain in the world and the fastest growing ecosystem in crypto, with thousands of projects spanning decentralised finance (DeFi), non- fungible tokens (NFTs), Web3 and more.

Luno assesses prospective assets based on factors like security, compliance, and utility. “The coins listed on our app should not be seen as an endorsement of its future potential, so as with any investment, we strongly encourage anyone looking to invest in crypto to conduct thorough research and due diligence before investing”, concludes Ayyar.

In June, Luno Singapore introduced the USDC Savings Wallet to its app. Shortly after, Luno Singapore partnered with FIS, an industry-leading payment provider, to use their Worldpay Merchant Solutions and provide another payment option for customers. Luno Singapore also collaborated with MoneySmart to launch an interactive content hub focused on educating consumers about cryptocurrency, key concepts and risk factors in this space. To learn more and receive regular updates on cryptocurrency, follow Luno Singapore’s Telegram Channel or explore Luno Discover and LunoTV which offers information to all the ins and outs of cryptocurrency.

Re-disseminated by The Asian Banker

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