Cryptocurrency exchange Luno said on Monday that it will stop offering its services to customers in Singapore from June 20.

Luno has informed the Monetary Authority of Singapore that it is withdrawing its application for a licence to operate in the Southeast Asian city-state as part of a move by the exchange to "review its global strategy and business".

In a separate announcement, Luno said customers in neighboring Malaysia are not affected and the exchange will continue to operate there.

Luno recently hired investment bank Canaccord Genuity Group to help attract new investors to support its growth and expansion plans. In addition, the company is eyeing a public listing.

Customers in Singapore can withdraw all funds they hold on the Luno platform until June 19.

Luno is owned by Digital Currency Group.