On June 12, 2020, KuCoin, an IDG-backed crypto exchange, announced that it will add support for Indian rupee (INR), Argentine peso (ARS), Philippine peso (PHP), United Arab Emirates dirham (AED), Azerbaijani manat (AZN), Chilean peso (CLP), Colombian peso (COP), Costa Rican colon (CRC), Dominican peso (DOP), Georgian lari (GEL), Kazakhstani tenge (KZT), Moldovan leu (MDL), Namibian dollar (NAD), Peruvian sol (PEN), Qatari riyal (QAR), Uruguay Peso (UYU), and Uzbekistan Som (UZS) to purchase cryptocurrencies. To access this service, users can visit the “Buy Crypto with Credit Card” page of KuCoin, select the Simplex platform, set the payment currency to any of the above fiat, and buy crypto directly.
With the acceleration of KuCoin’s global expansion, the crypto platform has introduced three fiat channels, Simplex, Banxa, and OTC Trading Desk, supporting over 50 fiat currencies such as USD, EUR, and AUD for purchasing crypto, lowering the threshold for global users to enter the crypto world.
KuCoin Global CEO Johnny Lyu stated: “KuCoin has been committed to promoting the mass adoption of blockchain and cryptocurrencies, and an easy channel to transact from fiat to crypto will largely contribute to this. KuCoin is one of the earliest mainstream exchanges to support Simplex. Also, in addition to fiat gateways like Simplex and Banxa, we are investing a lot to develop our OTC Trading Desk service. Through continuous efforts on fiat channels, KuCoin welcomes more newcomers to embrace and make contributions to the crypto world.”
Founded in September 2017, KuCoin has grown into one of the most popular crypto exchanges, and it currently provides a series of financial services including fiat-to-crypto, crypto-to-crypto, futures, staking, borrowing, token launch and more to its 5 million users across 207 countries and regions around the world. One out of four crypto holders worldwide are with KuCoin.