Sirlibz
Kucoin, one of the leading cryptocurrency exchanges has announced that it’s P2P Fiat Market will support buying Crypto currency with USD via PayPal. This would mean that traders or customers of the exchange will be able to purchase cryptocurrency like USDT, BTC, ETH with USD through the PayPal platform.
Kucoin CEO Johnny Lyu said
“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.”
This is indeed huge news for the cryptocurrency world because USD is the most recognised inter-currency PayPal has an estimated 325M users. Latest data from Coinhills shows that among other fiats, USD is the leading fiat or paper money used to purchase Bitcoin and other cryptocurrency by over 63.21%. The combination of USD and PayPal should provide a nice amount of interest from PayPal users in Bitcoin and through the platform without having to worry about moving funds around to other platforms and encounter more fees.
Kucoin also plans to celebrate the first anniversary of the P2P Fiat Market on its platform, they hope to launch different campaigns that will create awareness of the P2P Fiat Market and the USD.
