Home Digital A 7-Fold Increase in Female Luno Users in 2021

A 7-Fold Increase in Female Luno Users in 2021

Most female users bought cryptocurrencies for investment while the rest are for trading, sending and receiving, and payments.

by Gopal Nair
Malaysian Female Luno Users

Luno, a regulated digital asset exchange in Malaysia, shared that its female users have grown from 16,000 in 2020 to more than 120,000 in 2021, an increase of more than sevenfold.

In addition, the transaction volume of female users has increased twelve times year-on-year (YoY) from RM170 million to over RM2 billion, indicating a positive trend of digital asset investment among women in Malaysia. The data is based on Luno’s female Malaysian user activity in 2021. 

On Luno, most female users in Malaysia buy cryptocurrencies for investment while the rest are for trading, sending and receiving, and payment. Most of the transactional activities came from the 30-39 age group (33%), followed by 25-29 years old (25%), 18-24 years old (17%), and 40-49 years old (16%). The majority of female users are from diverse career backgrounds, including education, healthcare, accounting, occupation, administration, and manufacturing.

Scarlett Chai, Luno Malaysia

Scarlett Chai, Luno Malaysia Marketing Manager, said, “Digital assets offer opportunities to improve on the traditional financial system. For women, this new financial system can mean financial inclusion and empowerment to harness their value. Hence, it is heartening to see many Malaysian women investing in digital assets. As a result, more women are beginning to realise the advantages of digital assets in helping them achieve financial independence.” 

“At Luno, we are committed to educating the public on the power of digital assets as an alternative investment. This initiative has helped grow awareness of digital assets among a much wider audience. In addition, we have made our platform more accessible and inclusive by organising a series of educational webinars tailored for women, the Women-in-Crypto series. Our goal is to encourage even more women to participate in this exciting space.”  

“We are beginning to see more women actively exploring other means of savings and investments. As a result, we see a growing number of female users on Luno, and we want to create a safe space for women to learn about digital assets. As women become involved in digital assets, there’s a huge opportunity for companies to create a truly inclusive and equal platform. We have seen before that when women lead, the interests of marginalised groups are more likely to be considered. This is a chance for parity in female representation and better inclusion for all.”

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