On August 5th, 2020, KuCoin, one of the largest exchanges globally, launched P2P trading in the Pound Sterling (GBP) market. The platform now allows users to buy BTC using GBP, offering better prices and instant transactions.
As per the announcement, more crypto and fiat currencies will soon be provided on the platform, with users advised to update to the new version of KuCoin to access the latest market and ensure that trades are successful.
According to recent statistics, KuCoin daily crypto volumes stand at over $300 million as the platform ramps up efforts to foster crypto adoption across the globe.
Now that the KuCoin P2P Fiat Market supports GBP, more people will find it convenient to procure digital assets with fiat, further stimulating the mass adoption of cryptocurrencies.
The launch of the P2P Fiat Trade for the GBP Market comes just days after KuCoin unveiled a similar platform aimed at P2P trading in the Nigerian market, with more crypto assets and African fiat currencies projected to be accessible soon via the platform.
KuCoin Expands Its Fiat Gateway
KuCoin Global CEO Johnny Lyu recently highlighted his company’s objective to expand its fiat gateways across multiple markets.
The Seychelles-based crypto-asset exchange started offering credit card support for 17 new fiat currencies on June 12th as it set its sights on Latin American and Eastern European clients.
During the launch, KuCoin CEO, Johnny Lyu, explained that his exchange provides a secure channel that facilitates movement from fiat to crypto as the best way to foster mass adoption of digital currencies.
More recently, on June 24th, 2020, KuCoin announced that its P2P Fiat Market had added support for U.S. Dollars (USD), allowing traders to buy digital assets such as USDT, BTC, and ETH conveniently via payment platforms like PayPal.
Orion DeFi Protocol Listed On the Exchange
Besides expanding its fiat gateway in numerous regions across the globe, KuCoin recently ventured into the exploding DeFi space.
Following a Choice Community Vote on July 20th, the exchange revealed that Orion Protocol had won the voting and would get listed on KuCoin starting from July 25th.
Kucoin’s CEO, Johnny Lyu, explained that his startup has been looking to venture into DeFi for quite some time and hopes to unearth hidden gems in the sector to benefit the platform’s investors.
Meanwhile, Kucoin’s staking service on Pool-X was launched on July 22nd, allowing users to earn an annualized yield of about 39%.