Europe is one of the significant proverbial battlefields for cryptocurrency to gain broader mainstream traction. Streamlining access to cryptocurrencies through EUR-based deposit methods is essential. KuCoin, one of the biggest crypto exchanges worldwide, will enable three key EUR spot trading pairs for BTC, ETH, and USDT.
KuCoin Eyes the European Market
There needs to be a simpler onboarding process to get more mainstream users into cryptocurrency. That responsibility falls on the shoulders of exchanges and trading platforms, as they are the gatekeepers for mainstream consumers. KuCoin, one of the five biggest trading platforms worldwide, acknowledges the importance of the European market. As a result, the exchange introduces three new major EUR spot trading pairs for the most popular crypto assets.
The company opts for bringing EUR trading to Bitcoin, Ethereum, and USDT. Bitcoin and Ethereum are the two biggest cryptocurrencies by market capitalization. USDT, or Tether, also makes sense, as it is the most liquid asset in the industry. More importantly, users can trade USDT for virtually any other cryptocurrency, asset, or token on the KuCoin platform, making it a strong candidate for users to convert their Euros.
The new trading pairs have gone live on the KuCoin spot market earlier today. Users depositing Euros into their KuCoin account can instantly convert between their fiat currency to any of these three cryptocurrencies and begin their cryptocurrency journey. In addition, these markets help KuCoin strengthen its position in the European crypto market. Europe is one of the fastest-growing regions for crypto activity globally and has become a hotspot for cryptocurrency adoption.
Ongoing Global Expansion Plans
Tackling the European market is the heels of KuCoin’s push into Brazil. The exchange enabled BRL support via PIX, a government-backed payment rail. Like their Brazilian counterparts, European customers now have easier access to the biggest cryptocurrency markets. Moreover, they can do so through their commonly-used currency, further lowering the industry’s entry barriers.
KuCoin CEO Johnny Lyu Comments on the Ongoing Expansion:-
“The new EUR spot trading pairs in the fiat-to-crypto service deployed by KuCoin is another major milestone after the addition of BRL a week ago. We hope this will bring excellent convenience to our local users and those who prefer to use the euro. It is extremely exciting to add two fiat currencies with spot trading pairs within a short time, reflecting the efficient implementation capability of KuCoin’s strategic deployment this year.”
Further He Adds:-
“KuCoin believes that providing a secure and stable bridge between fiat and cryptocurrencies will bring a better experience to crypto users, which is crucial for crypto mass adoption. KuCoin plans to support more fiat trading pairs in the spot market in the nearest future, thus becoming the best place to explore the crypto world with fiat for global users.”
It isn’t KuCoin’s first venture into the European market. The company enabled SEPA Payments in March 2022, further illustrating the importance of Europe as a cryptocurrency hub. Through SEPA, users can experience a straightforward fiat-to-crypto exchange experience, and that experience is now enhanced through these BTC/EUR, ETH/EUR, and USDT/EUR trading markets.
Source: https://www.cryptonewsz.com/kucoin-launches-key-eur-spot-trading-pairs/