KuCoin, a global cryptocurrency exchange and ranked within the top seven, has announced its achievement as the first Financial Intelligence Unit (FIU) compliant global crypto exchange in India.
This landmark accomplishment highlights a crucial moment in the dynamic landscape of Indian cryptocurrency amidst recent regulatory changes, emphasizing KuCoin’s commitment to broadening its footprint in essential global markets as an integral aspect of its expansive global strategy.
The recognition by the FIU not only sets a new standard for regulatory compliance but also paves the way for KuCoin to introduce a suite of initiatives aimed at enhancing the service experience for its Indian users, according to the announcement.
Among these initiatives, KuCoin plans to roll out localized payment solutions in collaboration with local banks and fiat partners, offering unique, direct on-ramp and off-ramp services specifically designed for the Indian market.
In addition, KuCoin is launching a partnership enrollment program aimed at welcoming more partners to provide more accessible and user-friendly services.
Understanding the critical role of strategic investment in nurturing the local crypto ecosystem, KuCoin is dedicating resources to support blockchain projects led by Indian entrepreneurs.
This focus on strategic investment is expected to aid the sustainable growth of the local crypto landscape.
In alignment with its commitment to fostering a secure and regulated industry, KuCoin said it will continue to support regulatory and government authorities.
Furthermore, in an effort to promote blockchain understanding and access to Web3 technology, KuCoin is partnering with educational institutions through its KuCoin Campus initiative.
This collaboration aims to nurture the blockchain industry’s development in India by offering resources and access to KuCoin’s technology and ecosystem.
The concept of “Glo-cal” — going global with a focus on localization — is at the heart of KuCoin’s strategy. By establishing a dedicated, localized team, KuCoin aims to better understand and serve the specific needs of Indian investors and users, underlining the importance of global expansion with a localized approach.
Johnny Lyu, CEO of KuCoin, expressed his enthusiasm about the registration’s completion in India, stating, “KuCoin places utmost importance on user asset security. By successfully completing this registration in India, we are set to enhance the Indian users’ experience and reaffirm our dedication to compliance and security.”
He further emphasized the opportunity this milestone creates for advancing the conversation on crypto adoption in India, focusing on user security and trading excellence.
Lyu highlighted KuCoin’s commitment to investing in and educating the Indian market to stimulate industry growth and support the sustainable development of the blockchain landscape.
“We are eager to support local innovation and build enduring educational partnerships to contribute significantly to India’s blockchain ecosystem,” Lyu added.