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Leading crypto exchange KuCoin launches USD deposits for over 8 million global users

KuCoin is one of the leading crypto asset exchanges that currently lists more than 400 digital currencies on its trading platform.

kucoin image of a draw with light emitting from it
Image: KuCoin

KuCoin rolled out a new feature, KuCoin Fiat Account, which allows users to deposit USD to their accounts using a credit or debit card and buy some of the most popular cryptocurrencies.

The crypto space continues to expand swiftly and converting fiat currencies to cryptocurrencies is one of the first hurdles that new traders face. The new Fiat Account feature comes as an addition to existing fiat-related services within the platform including P2P Fiat Trade and third-party services such as Simplex, Banxa, and BTC Direct. 

KuCoin is one of the leading crypto asset exchanges that currently lists more than 400 digital currencies on its trading platform.

“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,” commented Johnny LYU, CEO of KuCoin Global. 

The Fiat Account feature allows users to use their Visa or Mastercard credit/debit cards to deposit USD directly to the exchange, prior to converting it to listed cryptocurrencies. The global crypto exchange also plans to support 50 more fiat currencies including EUR, AUD, GBP, and RUB, among others. 

In addition to the launch, KuCoin also plans to start a campaign to celebrate the Fiat Account feature and reward users by giving them a 50% discount to the first 100 users who buy USDT via KuCoin Fiat Account from 18:00 on November 2, to 18:00 on November 5, 2021 (UTC).

A few days ago, KuCoin announced that the trading volume and new signup of the platform grew 720% and 446% YoY, respectively, for the quarter to end-September. Moreover, the average daily lending volume (ADLV) on the company’s Lending platform reached roughly $100 million for the same period.

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Chris has been blogging since the early days of the internet. He primarily focuses on topics related to tech, business, marketing, and pretty much anything else that revolves around tech. When he's not writing, you can find him noodling around on a guitar or cooking up a mean storm for friends and family.

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