Cryptocurrency investment app Luno expands crypto offering in Australia

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

Now users in Australia can buy, sell, and store ADA on the Luno app and website, alongside its existing cryptocurrency offering. Luno will also be adding SOL to its investment portfolio early next month.

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 DeFi, NFTs, Web3 and more.

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.

“As advocates of building for the long term, we believe it’s important to give customers access to newer crypto applications that have a promising future. Now, not only do customers have access to ADA and SOL, they also have the peace of mind that comes with the rigorous security that customers rely on from Luno,” commented James Logan, Australia Country Manager, Luno.

“We want to break down the complications around cryptocurrencies to make it easy for people to buy, send, store, and learn about. Customers don’t need to make one large investment to get started but can build and grow their investment overtime through smaller amounts – similar to how they make contributions to their superannuation for example,” added James.

While ADA and SOL meet Luno standards for safety, being listed on Luno is not an endorsement of its future potential as an investment. Luno assesses prospective assets based on factors like security, compliance, and utility, but will always suggest anyone looking to invest in crypto should do their own research and exercise good judgement before investing.

“Luno only offers crypto currencies that pass our strict assessment criteria to help find customers the most compelling investment options, viewed through a long term lens,” said James, adding, “That’s why over the coming months, customers in Australia will be able to explore and invest in more opportunities to tap into a new global financial system and participate equally.”