Luno expands digital asset and payment infrastructure in Malaysia and Kenya

Luno is expanding its financial infrastructure through a strategic collaboration in Malaysia and an acquisition in Kenya.

In Malaysia, Luno has partnered with Halogen Capital and Kenanga Investors Berhad to explore the use of UMYR, a proposed Ringgit-pegged stablecoin. This initiative aims to facilitate on-chain settlement for tokenised money market funds, enabling real-time delivery-versus-payment for subscriptions and redemptions. The UMYR stablecoin would be issued by a ring-fenced entity within the Luno group and backed 1:1 by Ringgit held in a regulated onshore account.

Separately, Luno has acquired the Kenyan fintech GTXN, a licensed fund manager and cross-border payments provider. The acquisition allows Luno to integrate GTXN’s regulated collection and payout rails into its global network, creating a proprietary infrastructure for cross-border capital transfers. This move is intended to bypass traditional correspondent banking networks, reducing FX fees and settlement delays between developed and emerging markets. GTXN will operate as Luno’s dedicated cross-border payments unit.