KuCoin, a Singapore-based cryptocurrency exchange, signed a partnership with Simplex permitting users to buy cryptocurrency with credit and debit cards.
KuCoin was launched in Sept 2017 following an initial coin providing (ICO) that raised 5,500 bitcoin, price around $27.5 million at that point. The exchange offers trading pairs like BTC/BCH, BTC/DASH, BTC/NEO, BTC/ETH, BTC/RDN, BTC/LTC, BTC/CVC, BTC/KCS, BTC/RPX, etc.
KuCoin is ranked as the 62nd largest exchange , that puts its daily trading at around $11 million.
The deal
According to the KuCoin web site, customers can currently be ready to purchase Bitcoin, Ethereum, Litecoin, USD and EUR using their credit or debit cards. This selection is important as a result of Visa and MasterCard are not any longer sure bets; they both classified cryptocurrency-related transactions as insecure, a status that comes with considerable use restrictions.
As a results of this partnership, new and existing KuCoin users should purchase cryptocurrencies using their credit and debit cards.
About KuCoin
KuCoin once claimed that it had been based in Hong Kong. In August, a journalist actually visited the location and discovered that the Firm wasn't really in Hong Kong. KuCoin responded, saying that city was the location of its mailing address, whereas truly, its headquarters were in Singapore. KuCoin failed to offer its Singapore address.
The exchange rapt to the Eos blockchain from Ethereum shortly once the former’s launch in April. KuCoin raised $20 million in funding in Nov from 3 totally different investment companies. In August, the exchange declared that it might be keeping its KCS tokens barred up for a further year, till Sept 2019. The token encompasses a capitalization of $56 million, as per coinmarketcap.com, and there are over a $100 million in lockup.
KuCoin is presently listing the 2 Bitcoin money forks individually, as BCHAB and BCHSV.
About Simplex
Simplex could be a payments startup that focuses on fraud prevention. The Firm was started in Israel in 2014. In February 2016, Simplex raised $7 million from a number of investors, together with Bitmain. In June 2018, Simplex started a service for firms running initial coin offerings. Simplex provides fraud-free payment process solutions worldwide. The company’s customers include a number of the most important crypto exchanges, wallets, and platforms within the world nowadays, like Shapeshift, BRD, Litecoin Foundation, Mycrypto, XAPO, and Changelly.
Earlier this month, KuCoin raised $20 million in a very Series A funding spherical from IDG Capital, Matrix Partners, and neo international Capital. The funding are used towards bringing KuCoin Platform 2.0 to life, increasing customer support employees, world growth likewise as blockchain analysis and development.
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