Comprehensive Analysis of Leading Cryptocurrency Exchanges in Malaysia for 2025

By Editorial Team -

Introduction

The cryptocurrency market in Malaysia has witnessed significant growth over the past few years, with an increasing number of investors and traders entering the space. Regulatory clarity from the Malaysian government has fostered the development of secure and compliant trading platforms, making it easier for users to buy, sell, and trade digital assets. This white paper provides an in-depth analysis of the best cryptocurrency exchanges available in Malaysia for 2025, examining their features, security measures, regulatory status, and overall user experience.

Malaysia’s Securities Commission (SC) plays a pivotal role in regulating digital asset exchanges (DAXs) to ensure transparency and security for investors. Platforms that wish to operate legally in Malaysia must obtain approval from the SC as Recognized Market Operators (RMOs). This regulatory framework has provided legitimacy to the market, ensuring that users trade on secure and compliant platforms.

1. Luno

Luno stands as one of the most prominent digital asset exchanges in Malaysia, serving over 3 million users across more than 40 countries. Malaysian traders can purchase Bitcoin, Ethereum, Ripple (XRP), and Bitcoin Cash using Malaysian Ringgit (MYR) trading pairs. Notably, Luno has introduced Bitcoin Cash as its fifth digital asset approved by the Securities Commission Malaysia (SC). The platform has processed over 72 million transactions, with assets under custody exceeding RM4.28 billion. Luno also offers syariah-compliant Ethereum staking, catering to Muslim investors.

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2. MX Global

Established in 2018, MX Global is a fintech company based in Kuala Lumpur, dedicated to creating a secure and accessible cryptocurrency trading platform. The exchange supports trading in Bitcoin and Ethereum, providing end-to-end solutions for storing, buying, and selling cryptocurrencies. MX Global integrates robust cybersecurity controls and compliance management systems, aiming to be the preferred liquidity platform for cryptocurrency investors and token issuers.

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3. Hata

Launched in 2022, Hata is Malaysia's newest cryptocurrency exchange and the fifth regulated Digital Asset Exchange (DAX) after receiving Approval-in-Principle from the Securities Commission (SC) in November 2022. As the first platform approved as a Digital Broker, Hata can seek liquidity from other regulated exchanges, enhancing its market reach. The platform enables businesses and consumers to transact cryptocurrencies with fiat currencies like the US Dollar and Malaysian Ringgit safely. Hata is committed to providing secure and accessible cryptocurrency trading.

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4. Torum

Torum International has emerged as a significant player in Malaysia's cryptocurrency landscape, becoming the sixth digital asset exchange (DAX) to receive an approval-in-principle from the Securities Commission Malaysia (SC) to operate as a Recognised Market Operator (RMO). Additionally, Torum has been approved to function as a digital broker, enabling it to access liquidity from other exchanges for fairer market prices. As a subsidiary of Torum Technology, a "SocialFi Metaverse ecosystem" established in 2018, Torum aims to simplify crypto trading and foster adoption in Malaysia, backed by support from major industry players like KuCoin Labs and Huobi Ventures.

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5. Binance

Binance is the world's largest cryptocurrency exchange by trading volume, offering a vast array of digital assets and services. Malaysian users can access a wide range of cryptocurrencies for spot, margin, and futures trading. The platform provides advanced trading tools, including customizable charts, APIs, and trading bots. Binance also offers features like staking, crypto savings accounts, lending and borrowing, and an NFT marketplace. Security measures include multi-tier protection, cold storage for funds, and the Secure Asset Fund for Users (SAFU). Deposits can be made through bank transfers and e-wallets.

datawallet.com

6. Sinegy

Founded in 2017 and based in Penang, Sinegy is Malaysia's first licensed digital asset exchange operator. The platform focuses on providing fiat-to-crypto trades using Ringgit and major cryptocurrencies. Sinegy offers robust and advanced charting tools, specialized tools for crypto trading, and competitive market maker rebates. The majority of assets are stored in cold wallets, ensuring enhanced security.

coinscipher.com

7. Tokenize Exchange

Established in 2017, Tokenize is a Singapore-based digital asset exchange that facilitates the buying and selling of over 30 digital currencies. It has obtained full approval from the Securities Commission of Malaysia to operate as a digital asset exchange. The platform plans to introduce a reward program and several services related to crypto-fiat pairings in Malaysia. Tokenize supports major cryptocurrencies and offers a user-friendly interface for both beginners and experienced traders.

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Comparative Analysis of Exchanges in Malaysia

Conclusion

The cryptocurrency market in Malaysia is evolving rapidly, with several exchanges offering diverse services to cater to the growing demand. Investors are advised to choose platforms that align with their trading needs, considering factors such as supported cryptocurrencies, fees, security measures, and regulatory compliance. As the industry matures, staying informed about market trends and regulatory developments will be crucial for making informed investment decisions.

Recommendations

  • For Beginners: Luno and Tokenize offer user-friendly interfaces and strong security measures.

  • For Advanced Traders: Binance provides extensive trading tools and asset options.

  • For Institutional Investors: Hata and MX Global provide compliance-driven platforms with high liquidity solutions.

  • For Community-Oriented Traders: Torum combines social engagement with trading features.

Disclaimer: Cryptocurrency investments carry inherent risks due to market volatility. Investors should conduct thorough research and consider their risk tolerance before engaging in cryptocurrency trading.

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