Mark Weaden
KuCoin is one of the leading cryptocurrency trading platforms and is now offering various fiat trading pairs on its spot market, as of June 20th, 2022. The company has been vying to expand its fiat-to-crypto trading services and the announcement that it’s launching its first fiat spot trading pair is a step in the right direction.
By adding BTC/BRL, ETH/BRL, and USDT/BRL to its spot trading options, allowing users to trade cryptocurrency and BRL in real-time. KuCoin is among the top-five trading platforms in the world by trading volume, offering instantaneous trades with high liquidity and security.
An Exciting Time For KuCoin
The Latin American market has been one of the fast-growing for crypto users, which is part of the reason why KuCoin has chosen to launch BRL trading pairs first. KuCoin’s CEO Johnny Lyu had this to say on the move: “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.”
But, this isn’t the first move into the Brazilian crypto market for KuCoin. In fact, they’ve been rapidly expanding their influence in the country since the start of 2022. One of the major moves from the exchange was to support PIX&TED, which is a payment method run by the Brazilian Central Bank, allowing users to deposit BRL on the KuCoin site.
KuCoin’s commitment to the Brazilian market won’t go unnoticed and now with the Central Bank policy in place, they are likely to become one of the leading providers in the coming years.
Going forward, KuCoin also looks to add trading pairs EUR, RUB, and other fiat currencies to ensure their expansion across the globe continues, though there has been no date announced as of yet.
What Is KuCoin?
A relatively new platform, first going online in 2017 and focusing on ensuring customers enjoy their crypto trading experience. This is spear-headed by opening the community and promoting inclusiveness within its user base.
The exchange offers over 700 digital assets to buy, sell and trade. There are a wealth of trading products, which include spot trading, margin trading, P2P fiat trading, futures, staking, and lending to over 18 million users worldwide.
