KuCoin — the fifth-largest cryptocurrency exchange — launched EUR trading pairs with the BTC, ETH, and USDT cryptocurrencies. The move is part of the exchange’s plans of expanding into the European market and facilitating operations for its users seeking conversions of their digital currency holdings into Euros.
The launch of EUR trading pairs is intended to lower entry barriers for users of the KuCoin exchange and allow for the onboarding of more market entrants. Traders willing to expand their portfolios with Euro holdings will also be able to make use of the new feature to leverage fiat-to-cryptocurrency channels and enjoy a high degree of security and quality user experience in conjunction with ample liquidity.
The launch of EUR trading pairs is another major milestone after the addition of BRL a week ago. KuCoin CEO Johnny Lyu said that the exchange hopes this will bring excellent convenience to local users and those who prefer to use the euro. He added:
“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,”
EUR pair trading comes in light of the recent integration of SEPA Payments by KuCoin on March 23. The new gateway allows users of the exchange to deposit Euros onto exchange accounts and make use of the “Fast Buy” function to enhance their trading experience further. KuCoin also added the Brazilian Real (BRL) to its supported list of currencies earlier in June, allowing local users to trade against popular cryptocurrencies like BTC and ETH, as well as make instant spot market conversations.