KuCoin has launched a payment method that enables cryptocurrency owners to use their trading platform accounts to make direct transactions.
A point-of-sale (PoS) system was introduced by the cryptocurrency exchange KuCoin, enabling its users to utilize their exchange balances to pay companies.
According to KuCoin, the Pay solution will enable retailers to incorporate cryptocurrency payments into their systems while allowing consumers to make purchases through the KuCoin app or by scanning a QR code.
KuCoin claims that the new tool supports roughly 54 cryptocurrency assets, such as USD Coin USDC$1.00, Tether USDT$0.9988, Ether ETH$3,464.70, and Bitcoin BTC$96,428, among others.
The feature can “open new opportunities” for merchants. It streamlines the purchasing process for individuals and enables companies to access KuCoin’s user base.
Additionally, KuCoin noted that it facilitates a smooth checkout procedure, encouraging a wider uptake of cryptocurrency assets.
Growth of cryptocurrency payments in 2024’s fourth quarter includes KuCoin
Beginning in the fourth quarter of 2024, KuCoin’s most recent offering coincides with a flurry of advancements in the cryptocurrency payments industry.
Stripe, a payments provider, launched USDC stablecoin payment options on October 9. On the first day, customers from 70 nations embraced the platform’s new payment option, demonstrating the high need for alternate payment methods.
The Web3 money app Wirex also introduced its modular payment chain, Wirex Pay, on the same day. This enables users to use their non-custodial wallets to make regular payments with their cryptocurrency assets. The service offers consumers total control over their money through several security safeguards.
In collaboration with Visa, fintech company FV Bank introduced business credit cards and debit cards on October 28. Customers can use the cards to access US money and digital assets. In addition to crypto assets kept in custody accounts like BTC, ETH, Polygon MATIC$0.4897, Dogecoin DOGE$0.3382, and PolkadotDOT$7.23, they take stablecoins like USDC and USDT.
In November, the American retail chain Sheetz partnered with Flexa, a provider of digital asset payment services, to increase its support for cryptocurrency payments. The collaboration allowed the chain’s 750 outlets to accept cryptocurrency payments. According to the business, users can pay with USDC, depending on Litecoin LTC.
$107.33 plus further cryptocurrency assets that Flexa accepts.
