KuCoin will open an over-the-counter service with support for the yuan and other fiat currencies According to the publication, the solution is aimed at expanding trading opportunities and increasing the number of supported payment methods.

KuCoin Launches OTC Service Supporting RMB and Other Fiat Currencies

Cryptocurrency exchange KuCoin this Saturday announces preparations for the launch of a new OTC platform. According to the publication, the solution is aimed at expanding trading opportunities and increasing the number of supported payment methods..

Trading on the KuCoin OTC platform will start on July 2 in test mode. Initially, only one trading pair will be available to users - USDT to Chinese yuan. “The launch of KuCoin OTC will fully satisfy the needs of users and contribute to the improvement of the KuCoin ecosystem. Users will be able to purchase tokens using supported fiat currencies, ”the exchange writes..

Thus, KuCoin can provide a solution to enter the capital market for Chinese investors who do not have access to other crypto-fiat channels. Similar services are successfully provided by Huobi and OKEx.

The list of assets supported by the KuCoin OTC platform is expected to expand over time. Initially, the platform will have an eight-hour break every day..

At the beginning of the month, KuCoin announced the delisting of its own token, which announced the suspension of DEX Aphelion development.

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