KuCoin Expands Services to Lat Am and Eastern Europe, Accepts New Fiat

KuCoin has expanded its services to Latin American and Eastern European customers by launching credit card on-ramps supporting 17 new fiat currencies.

According to a report on June 12, the crypto-asset exchange KuCoin has announced its expansion of fiat on-ramps by introducing the support for 17 new national currencies.

Since KuCoin has integrated with Simplex, Banxa, and OTC Trading Desk, the exchange is now able to support credit card purchases in over 50 fiat currencies.

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New Features from KuCoin

The small African archipelago of Seychelles reportedly has been hosted a number of cross-border Bitcoin (BTC) transactions which is larger than the United States.

KuCoin's headquarter is located in Seychelles.

The KuCoin newest supported currencies are to countries located in Latin American and Central Asia.

Johnny Lyu, the Global chief executive of KuCoin, said:

“KuCoin has been committed to promoting the mass adoption of blockchain and cryptocurrencies, and an easy channel to transact from fiat to crypto will largely contribute to this...Through continuous efforts on fiat channels, KuCoin welcomes more newcomers to embrace and make contributions to the crypto world.”

The crypto-asset exchange KuCoin now reportedly supports Fiat purchases for several national currencies, including the United Arab Emirates, Azerbaijan, Chile, Colombia, Costa Rica, Argentina, Dominican Republic, Georgia, Kazakhstan, Moldova, Namibia, Peru, Qatar, Uruguay, India, The Philippines, and Uzbekistan.

BTC Volume in Seychelles May be Largest in World

According to data published by Crystal, the Seychelles has been the world’s largest source of cross-border Bitcoin transfers with the addition of KuCoin’s expansion of fiat support.

Exchanges which are located in Seychelles are estimated to have received $15.83 million and sent $20.83 billion worth of Bitcoin transfers in and out of the country during 2019.

The Seychelles is a small country in Africa, consisting of a mere 175 square mile archipelago and a population of roughly 100,000. Most of the Bitcoin trades that flowed from Seychelles went to Europe, the United States, and South Korea.

Many leading crypto exchanges also located in Seychelles such as BitMEX, Cex.io, and Bitfinex.

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