KuCoin to Support Brazilian Real on Its Spot Market

KuCoin, a major cryptocurrency platform, announced on Monday that its spot market will support fiat trading pairs starting today, with the Brazilian Real (BRL) becoming the first fiat. According to the press release, the platform added BTC/BRL, ETH/BRL and USDT/BRL trading pairs to its spot market.

KuCoin has been expanding aggressively in the Brazilian market since 2022. On March 23, KuCoin supported PIX&TED, the Brazilian Central Bank’s bank transfer payment method, allowing users to deposit BRL directly on KuCoin’s official website for purchasing cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term through KuCoin’s Fast Buy channel.

Due to a new Central Bank policy, KuCoin became the first crypto exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term to support BRL transfers via PIX on June 18. With its upcoming launch of EUR, RUB and other fiat currency trading pairs, KuCoin will offer better fiat-to-crypto trading services and accessibility for its global users.

“As an early participant and accelerator in the crypto industry, KuCoin is committed to leveraging cutting-edge technologies and innovative products to bring blockchain and crypto to the masses, and KuCoin’s support in fiat trading pairs marks a big step toward this. Also, providing a secure, stable service between fiat and cryptocurrencies will bring a better experience to crypto users, which is crucial for crypto mass adoption. With support for more fiat trading pairs, KuCoin will become the best place to explore the crypto world with fiat for global users,” Johnny Lyu, KuCoin’s CEO, commented.

Partnership with Pyth Network

In May, KuCoin announced that it had inked a partnership with Pyth Network, an Oracle solution built on the Solana blockchain. Such a deal will allow KuCoin to provide real-time prices of trading pairs listed on the exchange to Pyth Network. In the DeFi ecosystem, Pyth Network operates one of the largest and most reliable oracle networks, derived from price data contributed by more than 60 leading institutions, both in crypto and traditional finance.