KuCoin has unveiled a new point-of-sale (PoS) system that allows users to make payments to businesses directly from their exchange accounts. The system, named “KuCoin Pay,” enables merchants to incorporate crypto payments into their systems, simplifying transactions for customers who can complete purchases by scanning a QR code or using the KuCoin app.
This new feature supports around 54 different cryptocurrencies, including Bitcoin, Ether, Tether, and USD Coin. KuCoin believes the introduction of this feature can present new opportunities for merchants by tapping into its extensive user base and streamlining the purchasing process. The company suggests that the seamless checkout could encourage broader adoption of cryptocurrencies.
This development is part of a larger trend of expanding crypto payment options in the market during the fourth quarter of 2024. On October 9, Stripe introduced stablecoin payments using USDC, gaining adoption in 70 countries on its first day. Similarly, Wirex launched a service allowing payments with crypto assets via non-custodial wallets, granting users full control over their funds.
Further expansions in crypto payment capabilities were seen with FV Bank, which launched debit and corporate credit cards in collaboration with Visa, accepting stablecoins as well as major cryptocurrencies. In November, Sheetz expanded its support for crypto payments through a partnership with Flexa, allowing payments at its 750 US locations with assets like USDC, Bitcoin, and Ethereum.
