VICTORIA, Seychelles--(BUSINESS WIRE)--KuCoin, a leading global cryptocurrency trading platform, has announced that its spot market will support fiat trading pairs starting June 20, 2022. As the first fiat supports spot trading pairs, it marks a significant step in expanding its fiat-to-crypto trading services. By adding BTC/BRL, ETH/BRL, and USDT/BRL to its spot market, KuCoin will allow cryptocurrency investors to make real-time exchanges between cryptocurrencies and BRL with high liquidity and security.
KuCoin’s CEO Johnny Lyu stated: “As an early participant and accelerator in the crypto industry, KuCoin is committed to leveraging cutting-edge technologies and innovative products to bring blockchain and crypto to the masses, and KuCoin’s support in fiat trading pairs marks a big step toward this. Also, providing a secure, stable service between fiat and cryptocurrencies will bring a better experience to crypto users, which is crucial for crypto mass adoption. With support for more fiat trading pairs, KuCoin will become the best place to explore the crypto world with fiat for global users.”
The support of BRL fiat trading pairs further enhances KuCoin's presence in the Brazilian crypto market. Since 2022, KuCoin has been expanding vigorously in the Brazilian market. On March 23, KuCoin supported PIX&TED, the bank transfer payment method launched by the Brazilian Central Bank, to allow its users to deposit BRL on KuCoin's official website for purchasing cryptocurrency through its ‘Fast Buy’ channel directly. On June 18, KuCoin became the first crypto exchange to support BRL transfers via PIX after the introduction of a new Central Bank policy. To provide better fiat-to-crypto trading services and accessibility for its global users, KuCoin will also launch trading pairs for EUR, RUB, and other fiat currencies in the near future.
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 18 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges, according to CoinMarketCap. Forbes also named KuCoin one of the Best Crypto Exchanges in 2021. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.