Global cryptocurrency exchange KuCoin has unveiled a point-of-sale (PoS) system designed to enable businesses to accept payments directly from users’ KuCoin balances. This new feature, called KuCoin Pay, aims to make crypto transactions more accessible for both merchants and consumers.
KuCoin Pay allows merchants to integrate cryptocurrency payments into their existing systems, enabling customers to pay by scanning a QR code or through the KuCoin app. According to the exchange, the tool supports 54 cryptocurrencies, including major assets such as Bitcoin (BTC), Ether (ETH), Tether (USDT), and USD Coin (USDC).
KuCoin Expanding Opportunities for Merchants and Users
KuCoin emphasized the potential benefits for businesses, stating that the PoS system could open new revenue streams and provide access to KuCoin’s extensive user base. By simplifying the checkout process, the company aims to drive the adoption of digital assets in everyday transactions.
“KuCoin Pay promotes a seamless checkout experience, encouraging more widespread use of cryptocurrencies,” the exchange noted in its announcement.
A Surge in Crypto Payment Innovations
KuCoin’s latest move follows a series of notable advancements in the crypto payments space during the final quarter of 2024.
On October 9, payments giant Stripe introduced stablecoin payment options powered by USD Coin (USDC). Users in 70 countries adopted the feature on its launch day, highlighting growing demand for alternative financial systems. Also on October 9, Web3-focused payment platform Wirex launched Wirex Pay, a modular service enabling users to make everyday payments with crypto assets stored in non-custodial wallets. Wirex highlighted the enhanced security and user control offered by the service.
On October 28, fintech firm FV Bank rolled out debit and corporate credit cards in collaboration with Visa. These cards allow customers to access both digital assets and fiat currencies, supporting cryptocurrencies like BTC, ETH, USDC, and USDT.
In November, U.S.-based convenience store chain Sheetz partnered with payment provider Flexa to expand crypto payments across its 750 locations. Supported assets include BTC, ETH, Litecoin (LTC), and USDC.
