Cryptocurrency exchange Luno will be discontinuing its services to customers in Singapore starting from June 20.
Luno has notified the Monetary Authority of Singapore that it is withdrawing its license application for operating in the city-state as part of its ongoing evaluation of its global strategy and presence.
The exchange has reassured its customers in nearby Malaysia that its services will continue to operate there without any impact. Luno has recently engaged investment bank Canaccord Genuity Group to help attract new investors to support its growth and expansion plans, including a potential future public listing.
Customers in Singapore have until June 19 to withdraw all their funds from the platform. Luno is a subsidiary of Digital Currency Group, which is also the parent company of CoinDesk.
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