Due to the expansion KuCoin has been experiencing, the cryptocurrency exchange has started to support additional currencies on its platform. With supporting over 50 fiat currencies, the exchange wants to increase user experience and promote mass adoption across the digital asset markets.
KuCoin Adds Additional Support
According to a recent press release, the crypto exchange is now giving users the ability to purchase cryptocurrency with 17 additional fiat currencies. When buying crypto with a credit card, users can leverage the additional currencies by using the built in Simplex payment protocol. The 17 new currencies include Indian rupee, Argentine peso, Philippine peso, United Arab Emirates dirham, Azerbaijani manat, Chilean peso, Colombian peso, Costa Rican colon, Dominican peso, Georgian lari, Kazakhstani tenge, Moldovan leu, Namibian dollar, Peruvian sol, Qatari riyal, Uruguay Peso, and Uzbekistan Som. Through three different fiat channels, the exchange is now able to support more than 50 fiat currencies.
Johnny Lyu ( KuCoin CEO ) mentioned in the press release that: “KuCoin has been committed to promoting the mass adoption of blockchain and cryptocurrencies, and an easy channel to transact from fiat to crypto will largely contribute to this. KuCoin is one of the earliest mainstream exchanges to support Simplex. Also, in addition to fiat gateways like Simplex and Banxa, we are investing a lot to develop our OTC Trading Desk service. Through continuous efforts on fiat channels, KuCoin welcomes more newcomers to embrace and make contributions to the crypto world.”
KuCoin was founded in 2017 and now serves over 5 million users from 200+ countries. According to the company’s site, “1 out of every 4 crypto holders in the world is with KuCoin.”
Users leverage KuCoin for various services such as futures, staking, fiat-to-crypto, crypto-to-crypto, borrowing, and token launches. KuCoin spot trading includes over 400 trading pairs and up to 10X leverage. With the increasing interest in crypto futures, users flock to KuCoin for futures due to small minimums and high leverage opportunities.
KuCoin staking “Pool-X” offers daily staking income and offers support for various currencies such as ATOM, TRX, KCS, and others. The staking industry by large has seen drastic growth over the last year. According to Stakingrewards, the market cap of staking has grown from $17 billion to over $160 billion in the last year. With many more proof-of-stake blockchains coming to fruition in the near future, it’s expected that the staking markets will continue to grow.
Aside from enhancing user experience through various fiat channels, the Crypto exchange continues to enhance flexibility in its collection of products & services.
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