The IDG-backed KuCoin crypto exchange platform has added support for another payment option on its P2P Fiat Market. Starting June 24, 2020, the platform’s users can now purchase leading cryptocurrencies like BTC, ETH, and USDT with US Dollars (USD) through PayPal. The inclusion of USD support adds to the number of fiat payment options available on KuCoin’s P2P Fiat Market place which so far included Chinese Yuan (CNY), Indonesian Rupiah (IDR), Vietnamese Dong (VND) and Canadian Dollar (CAD).
Being a widely recognized international currency, the US Dollar is one of the mainstream and important fiat currencies in the world. It also makes up for the majority of crypto-related transactions. According to the latest data compiled by Coinhills, over 63.21% of transactions between fiat and Bitcoin across the world happens in US Dollar. The inclusion of USD option in KuCoin P2P Fiat Market will now add to the convenience of its users by enabling more people to buy crypto, thereby further promoting the mass adoption of cryptocurrencies and their underlying blockchain technology.
KuCoin Global CEO Johnny Lyu stated: “As one of the most globalized cryptocurrency exchanges, KuCoin has been expanding its fiat gateways. Now, our P2P Fiat Market supports Chinese Yuan (CNY), Indonesian Rupiah (IDR), Vietnamese Dong (VND), Canadian Dollar (CAD), and US Dollar (USD), the 5 mainstream fiat currencies. We also support 50 fiat currencies like EUR and AUD through our partnerships with Simplex, Banxa and PayMIR. In the future, we will continue to further our work towards globalization, enabling more users worldwide to enjoy the services we provide here at KuCoin, ultimately helping more users enter the crypto world.
The latest announcement also coincides with the first-anniversary celebration of the KuCoin P2P Fiat Market. The platform is planning to launch a series of campaigns to promote the inclusion of USD payment support.
For more information, please refer to KuCoin’s announcement.