Singapore-based global cryptocurrency exchange KuCoin announced on Wednesday its P2P Fiat Market added support for US Dollars (USD), allowing traders to buy cryptocurrencies like USDT, BTC and ETH with USD through PayPal and other payment methods. According to KuCoin, This is another mainstream fiat currency supported by the KuCoin P2P Fiat Market after the opening of Chinese Yuan (CNY), Indonesian Rupiah (IDR), Vietnamese Dong (VND) and Canadian Dollar (CAD).
“The US Dollar, as a recognized international currency, is one of the most mainstream and important fiat currencies in the world. According to the latest data from Coinhills, of the proportion of transactions between fiat currencies and Bitcoin in various countries, USD ranks first at 63.21%. Now that the KuCoin P2P Fiat Market supports USD, it will be easier for more people around the world to buy cryptocurrency, further promoting the mass adoption of blockchain and cryptocurrencies.”
KuCoin Global CEO, Johnny Lyu, further explained the new process by stating:
“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.”
Founded in 2017, KuCoin claims it 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 is with KuCoin.