KuCoin has introduced a solution for integrating cryptocurrency payments into the retail sector, designed to serve both service providers and consumers.
KuCoin, a cryptocurrency exchange, has introduced KuCoin Pay, a new payment solution targeting the retail sector. The service supports both online and offline transactions worldwide, allowing merchants to accept 54 cryptocurrencies as payment, including BTC, ETH, USDT, and USDC.
KuCoin Pay users can make contactless payments through the exchange’s mobile app or by scanning QR codes. The service also enables mobile phone top-ups and gift card purchases. A verified KuCoin account is required to access the platform.
Notably, this is not KuCoin’s first venture into payment products. In late November 2023, the exchange launched the KuCard debit crypto card on the Visa network, featuring support for Apple Pay and Google Pay. Currently, the card is available only to citizens and residents of the European Economic Area, letting them make in-store purchases and withdraw cash at ATMs.
Later, in March 2024, two criminal cases were filed against KuCoin in the United States, alleging unlicensed business operations, violation of the Bank Secrecy Act (BSA), and non-compliance with anti–money laundering (AML) requirements.
