KuCoin exchange has launched the KuCoin Fiat Account, an avenue by which its customers around the world can fund their accounts using either a Visa or Mastercard debit or credit card.
According to the company, the new fiat account will permit the deposit of US Dollars, and customers will be able to purchase a wide range of digital currencies through the Fast Buy channel.
Granting easy access to purchase digital currencies like Bitcoin (cryptocurrency, based on the proof-of-work blockchain. Bitcoin was created in 2009 by a mysterious creator, Satoshi Nako…”>BTC) remains a major focus amongst digital currency trading platforms worldwide. While many exchanges have a payment gateway through third-party financial institutions, users can fund their accounts to purchase their digital currency of choice; direct access through debit or credit cards is necessary to enhance user experience (UX).
“As the ‘People’s exchange’, KuCoin continues to improve the experience for all classes of crypto investors by introducing advanced products with less complexity and lower fees. The KuCoin Fiat Account will help get more intenders on board, contributing to the mass adoption of crypto ahead,” Johnny LYU, the Chief Executive Officer at KuCoin Global, said in an official statement.
KuCoin stated that the new funding method would primarily focus on the USD at inception while support for up to 50 coins will be provided shortly.
Regulatory pressures are fast forcing many exchanges to pull out their fiat support services in key crypto hotspots around the world. Following a wave of crackdowns on the Binance exchange, the trading platform has had to suspend its fiat support for its users in Singapore, South Korea, and South Africa amongst others.
The provision of USD fiat support globally showcases that the KuCoin Exchange is threading on a clear path in terms of regulatory standing. According to the trading platform, other fiat currencies to be integrated shortly include EUR, AUD, GBP, and RUB.
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