KuCoin Launches KuCard for Crypto Payments
Date: 2023-11-23 Author: Dima Zakharov Categories: CRYPTO PAYMENTS, IN WORLD
Bridging Traditional and Crypto Payments
KuCoin has unveiled KuCard, a new Visa crypto card that combines regular banking transactions with cryptocurrency payments. According to the official press release, KuCard expands the capabilities of conventional payments, allowing users to make purchases wherever regular debit cards are accepted. Moreover, it facilitates online shopping and cash withdrawals from ATMs.
Seamless Integration and Security Features
The exchange states that KuCard supports integration with Apple Pay and Google Pay, enabling contactless payments through smartphones. This integration not only enhances convenience but also bolsters transaction security, emphasized by the exchange representatives.
Significance for KuCoin and Crypto Industry
The launch of KuCard is deemed a significant event for KuCoin and the cryptocurrency industry overall. A debit card supporting digital assets as the primary method of daily payments is seen as a pivotal factor in accelerating the mass adoption of cryptocurrencies, as highlighted in the press release.
Initial Access and Benefits
Initially, KuCard access is provided to residents of the European Economic Area (EEA) who have completed the identity verification process. They can also receive up to 10% cashback from each cryptocurrency payment for goods or services.
Strengthening Verification Measures
Previously, KuCoin announced that the Know Your Customer (KYC) procedure would become mandatory for all exchange users and later tightened user verification rules.
