CRYPTOCURRENCY company Luno Malaysia Sdn Bhd is teaming up with Shopee Malaysia to give out incentives on the e-commerce platform that can be exchanged to cryptocurrencies.
Per a local media announcement on January 29, the collaboration will allow customers to access deals, discounts and vouchers on Shopee, which can be purchased and converted into cryptocurrencies like bitcoin and ethereum on Luno, a cryptoexchange platform regulated by the Securities Commission Malaysia. Being a regulated exchange allows the company to explore new ways of expanding access to crypto for users in Malaysia, Luno Malaysia country manager Aaron Tang said.
“An innovative approach is to leverage the breadth and depth of e-commerce players like Shopee. We expect this effort to drive massive awareness and adoption, making it easy for users on Shopee to access crypto and begin their investment journey,” he said in a statement yesterday.
The collaboration is the first of its kind between an e-commerce player and a crypto platform in Malaysia.
Luno, which is based in London, intends to leverage Shopee’s large user base to create awareness and attract new customers by offering a RM15 bitcoin voucher at just RM1.
The move, along with other vouchers available on Luno’s official store on Shopee, is a decisive step to bring cryptocurrencies into the mainstream.
Shopee Malaysia’s Shopee Mall head Kenneth Soh said the tie-up is one of the key reasons why the e-commerce player is able to stay ahead in the industry.
“We strive to make our product assortment as wide and accessible to all. In 2019, Shopee enabled the purchase of properties, cars, food and beverage deals and more on our platform.
“In January 2020, we are now giving our users the opportunity to try their hands at cryptocurrency through this collaboration with Luno,” he said.