In a press release on Tuesday, leading crypto exchange KuCoin announced the full launch of its Web 3 wallet.
KuCoin revealed that it was now fully ready after an extended beta testing period of the wallet. According to the exchange, about 3 million users took part in the beta tests, whose feedback led to significant improvements in server performance and client-side stability.
It is worth noting that the wallet launch was first announced weeks ago, as reported by ZyCrypto. KuCoin declared in their announcement at the time that the wallet represented the firm’s desire to build for Web 3.
KuCoin promises users a secure and easy-to-use self-custody wallet with support for multiple networks. According to the press release, users can access several DApps using the wallet.
At launch, the KuCoin wallet supports the Ethereum, Polygon, BNB, and KCC networks. Consequently, users would be able to store crypto-assets like USDT, USDC, BNB, ETH, and more. In addition, with support for the KuCoin Windvane NFT marketplace, users can hold and manage their digital collectibles on the wallet.
With the wallet launch, KuCoin is set to compete with big-name rivals Coinbase, Binance, and Robinhood, which boast similar self-custody wallets. Notably, KuCoin assures users of full control and top-notch security.
It is worth noting that Kucoin’s self-hosted wallet launch comes at a significant period. As the crypto markets brace for the possibility of an extended bear market, several CeFi platforms have shown weakness, strengthening calls for users to hold their digital assets in unhosted wallets.
There has been a flurry of developments from KuCoin in recent weeks. In addition to supporting the Brazilian Real (BRL) just over a week ago, the exchange announced support for Euro Trading pairs on Tuesday.
“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 euro,” said KuCoin CEO Johnny Lyu. “KuCoin strongly 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. In the nearest future, KuCoin plans to support more fiat trading pairs in the spot market thus becoming the best place to explore the crypto world with fiat for global users.”