On June 24, 2020, KuCoin, an IDG-backed crypto exchange, announced that its P2P Fiat Market added support for US Dollars (USD), meaning traders can buy cryptocurrencies like USDT, BTC and ETH with USD via PayPal and other payment methods. This is another mainstream fiat currency supported by the KuCoin P2P Fiat Market after the opening of Chinese Yuan (CNY), Indonesian Rupiah (IDR), Vietnamese Dong (VND) and Canadian Dollar (CAD).
The US Dollar, as a recognized international currency, is one of the most mainstream and important fiat currencies in the world. According to the latest data from Coinhills, of the proportion of transactions between fiat currencies and Bitcoin in various countries, USD ranks first at 63.21%. Now that the KuCoin P2P Fiat Market supports USD, it will be easier for more people around the world to buy cryptocurrency, further promoting the mass adoption of blockchain and cryptocurrencies.
KuCoin Global CEO Johnny Lyu stated: “As one of the most globalized cryptocurrency exchanges, KuCoin has been expanding its fiat gateways. Now, our P2P Fiat Market supports Chinese Yuan (CNY), Indonesian Rupiah (IDR), Vietnamese Dong (VND), Canadian Dollar (CAD), and US Dollar (USD), the 5 mainstream fiat currencies. We also support 50 fiat currencies like EUR and AUD through our partnerships with Simplex, Banxa and PayMIR. In the future, we will continue to further our work towards globalization, enabling more users worldwide to enjoy the services we provide here at KuCoin, ultimately helping more users enter the crypto world.”
In addition, to celebrate the first anniversary of the P2P Fiat Market being made available on the platform, KuCoin will launch a series of campaigns to promote the addition of US Dollars (USD) to the P2P Fiat Market. For more information, please refer to the official KuCoin announcement.