Cryptocurrency adoption in retail is gaining momentum as crypto exchange Kucoin announced on Thursday the launch of Kucoin Pay, a new merchant solution aimed at streamlining crypto payments in the retail sector. The initiative introduces borderless, contactless transactions by integrating digital currencies into traditional retail environments. The exchange stated:

Leveraging Kucoin’s robust infrastructure—trusted globally and serving over 37 million+ users – Kucoin Pay is poised to open new opportunities for merchants and users to thrive in the evolving digital economy.

The company’s goal is to drive broader crypto adoption by providing businesses with efficient tools to accept cryptocurrency payments seamlessly.

Kucoin Pay is designed to lower transaction fees and facilitate immediate settlement, simplifying payment management for merchants. The platform supports a wide array of cryptocurrencies and blockchain networks, allowing businesses to reach a global audience. Merchants can integrate Kucoin Pay directly into their existing systems, enabling customers to make purchases by scanning QR codes or using the Kucoin app.

The company noted:

Additionally, Kucoin Pay is integrated within the Kucoin app, enabling businesses to tap into Kucoin’s extensive user base while simplifying the buying process for everyday items for users.

This functionality allows users to pay for items like gift cards and mobile top-ups, further embedding cryptocurrency into daily life. Kucoin Pay is part of Kucoin’s broader strategy to promote blockchain adoption and strengthen its position in the digital payments market.

This development comes after Kucoin faced legal challenges earlier in 2024, including charges from the U.S. Department of Justice (DOJ) for alleged violations of anti-money laundering laws. Despite these challenges, Kucoin continues to expand its services, aiming to bridge the gap between traditional retail and the digital economy.

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