KuCoin, an IDG-backed crypto exchange, announced that its OTC Trading Desk will support Canadian dollars (CAD) at 09:00, May 25th (UTC-8), and users can use Canadian dollars to purchase cryptocurrencies such as BTC, USDT, and CADH. This is another mainstream fiat currency supported by the KuCoin OTC Trading Desk after the opening of Chinese Yuan (CNY), Indonesian Rupiah (IDR) and Vietnamese Dong (VND).
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As the home of Vitalik, Ethereum founder, Canada has become one of the pioneers in the crypto industry, based on the nation’s innovation capabilities, low-cost energy, high-speed Internet, and sound regulatory system. It is expected to follow Eastern Europe and China as another blockchain and cryptocurrency center. This OTC fiat currency channel that KuCoin has opened can facilitate Canadian users to more easily purchase cryptocurrencies, lowering the threshold for users in this region to pass by the gates into the cryptocurrency world and also further promote robust development in the cryptocurrency field in this region.
KuCoin Global CEO Johnny Lyu stated: “As the most global crypto trading platform, KuCoin is committed to promoting blockchain technology and cryptocurrency popularization and application, and continued access to more fiat currencies will advance this. The KuCoin OTC platform currently promotes three fiat currencies, and we also use partners like Simplex and Banxa to support over 20 fiat currencies, like USD, EUR, and AUD. Now that the OTC platform includes the Canadian dollar, we will continue to globalize this process, and allow users all around the world to easily use KuCoin services, lowering barriers of entry to the crypto world.
In addition, KuCoin will also launch a themed event on the Canadian dollar OTC trading market, and participating in the event will offer the opportunity to share rewards of more than USDT 10,000.
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