KuCoin introduces new crypto payment system for exchange users

KuCoin Introduces Payment System for Crypto Purchases

Reported by Cointelegraph, KuCoin has unveiled a payment system that empowers cryptocurrency holders to make direct purchases using their accounts on the trading platform.

KuCoin Pay Simplifies Crypto Transactions

KuCoin's KuCoin Pay tool enables merchants to incorporate crypto payments into their systems. Customers can seamlessly make purchases by scanning a QR code or utilizing the KuCoin app.

The new feature supports approximately 54 crypto assets, including Bitcoin, Ether, Tether, and USD Coin.

Benefits for Merchants and Consumers

KuCoin Pay offers several advantages for both merchants and consumers:

• Merchants: Tap into KuCoin's expansive user base and simplify the buying process for crypto-savvy customers.
• Consumers: Enjoy a seamless checkout experience and contribute to the widespread adoption of crypto assets.

Growing Trend in Crypto Payments

KuCoin's launch aligns with a surge in advancements within the crypto payments sector since the fourth quarter of 2024:

• Stripe: Introduced stablecoin payment options using USDC, garnering significant user adoption.
• Wirex: Launched Wirex Pay, a modular payment chain that provides users with control over their funds and everyday crypto payments.
• FV Bank: Teamed up with Visa to offer debit and corporate credit cards that support digital assets and US dollars.
• Sheetz: Expanded its crypto payments support in partnership with Flexa, enabling crypto payments at its 750 locations.

These initiatives demonstrate the growing acceptance and practical use cases of cryptocurrencies.