On June 17, 2020, KuCoin, an IDG-backed crypto exchange, announced a new partnership with PayMIR, a well-known fiat on-ramp service provider in Russia. The partnership will enable new and existing KuCoin users worldwide to purchase crypto with Russian Ruble (RUB) using their credit and debit cards.
According to the data from the RACIB (Russian Association of Cryptoindustry and Blockchain), Russia now has approximately 2 million cryptocurrency investors, and the number is continuing to grow by leaps and bounds. Russia’s huge market capacity and rich pool of blockchain talent have promoted the country, allowing it to become one of the fastest development areas in the blockchain field. By partnering together, KuCoin is enabling Russian traders to purchase cryptocurrencies more conveniently, while also contributing to the blockchain development in Russia.
Moscow-based PayMIR currently boasts subsidiaries in the US, Germany, Ukraine, Hong Kong, and Shenzhen, which together have led to the creation of a full-service market where users can buy and sell digital goods, services, and cryptocurrencies. Thanks to this cooperation, KuCoin users can now use RUB to buy USDT in the “Buy with Credit Card” page by selecting PayMIR. After transferring their fiat to PayMIR through wire transfer, users will soon receive cryptos in their KuCoin account.
“From its inception, KuCoin has been committed to offering secure, stable and easy-to-use trading services to all users,” said Johnny Lyu, KuCoin Global CEO. “For a long time, moving from fiat to crypto has been a relatively complicated process. It is also a major obstacle for new users looking to invest in cryptocurrencies. We are really excited to partner with PayMIR, and through the PayMIR Core system, we are now able to provide Russian users with a more smooth experience. This is also an important step in KuCoin’s global expansion.”
Yuri, co-founder and CEO of PayMIR, said: “PayMIR aims to revolutionize payment methods between international suppliers, making it easier and more compliant. KuCoin is one of the most global exchanges with more than 5 million users, and with our cooperation, more users around the world can enjoy the service PayMIR offers, allowing them to join the crypto world with just a few clicks.”
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.