KuCoin enters the Web3 world with a new decentralised wallet platform featuring cross-blockchain, DeFi and NFT trading functionalities.
Cryptocurrency trading platform KuCoin has launched a new decentralised wallet platform as interest in Web3 continues to grow exponentially.
KuCoin Wallet is already available to users and the browser based wallet is being prepared for a mobile application that is still under development.
The platform connects to the KuCoin ecosystem and features cross-chain integration. Users will be able to buy, sell, trade and send a variety of cryptocurrencies, including Bitcoin (BTC), Ether (ETH) and Tether (USDT).
The wallet is self-custodian, giving users full control and responsibility over their private keys.
As the cryptocurrency ecosystem continues to adopt and support decentralised finance (DeFi) and non-fungible token (NFT) functionality, KuCoin Wallet will include DeFi, NFT and GameFi services.
KuCoin’s own NFT marketplace, Windvane, powers this functionality at launch, allowing users to trade and view NFT in KuCoin Wallet. Windvane introduced a USD 100 million “Maker Fund” in April 2022 to help support and encourage early-stage NFT projects to use the platform.
KuCoin raised USD 150 million of investment in a pre-Series B round in 2022, bringing the company to a valuation of USD 10 billion. The company intends to use the proceeds from the fundraising round to further develop Web 3.0, DeFi and NFT services and offerings within its ecosystem. KuCoin Labs and KuCoin Ventures will spearhead these efforts, which have already borne fruit with the launch of KuCoin Wallet.