KuCoin Pay and Uquid Partner to Expand Crypto Payment Integration

KuCoin Pay has entered into a collaboration with Uquid, a decentralized e-commerce platform established in 2016, in an effort to strengthen the integration of cryptocurrency payments with everyday consumer transactions. The partnership, announced on Tuesday, marks the first such collaboration for KuCoin Pay, which was recently introduced by Seychelles-based crypto exchange KuCoin to facilitate seamless digital transactions.

Beyond increasing awareness and adoption of KuCoin Pay, this alliance enables users to acquire over 510,000 digital products available on Uquid. The purchases can be made effortlessly using the newly introduced Uquid MiniApp, accessible within the KuCoin app. The announcement follows a significant development concerning KuCoin, as its core entity, Peken Global Limited, recently admitted to operating an unlicensed money-transmitting business. In response to legal actions, the company agreed to cease operations in the United States for a period of two years and settled penalties amounting to approximately $300 million.

Expanding Crypto Payment Solutions

Launched in January this year, KuCoin Pay offers rapid, cost-free transactions across multiple blockchain networks. Supporting 54 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and KuCoin’s native token (KCS), it simplifies digital payments by allowing users to complete transactions through four straightforward steps. With this collaboration, the integration of KuCoin Pay with Uquid’s payment system is expected to make crypto-based shopping more efficient and convenient for consumers.

The partnership comes shortly after KuCoin, under the leadership of its new CEO, BC Wong, announced a strategic alliance with Kaia to further strengthen blockchain adoption. The growing inclination toward decentralized e-commerce is driven by advantages such as enhanced security, improved privacy, and the elimination of currency conversion challenges for international purchases. By eliminating the need to share bank details, cryptocurrency payments have gained increasing acceptance among digital shoppers.

Uquid’s Expansive E-Commerce Ecosystem

Uquid has established itself as a leading decentralized shopping platform, offering an extensive selection of over 170 million physical products, 520,000 digital goods, and NFTs. The platform covers a diverse range of categories, including apparel, electronics, jewelry, and sporting equipment. Additionally, it features a flexible “Buy Now, Pay Later in 3” option, enabling customers to make interest-free payments in three installments over a 90-day period. Supporting 11 blockchain networks, Uquid also extends services such as water bill payments in Indonesia and public transport payments in Argentina using USDT on the TRON network.

This latest partnership follows Uquid’s previous integrations with Binance Pay in 2021 and Gate Pay in 2022. By joining forces with KuCoin Pay, the company aims to further advance the fusion of blockchain technology with conventional retail transactions, thereby facilitating broader crypto adoption in the e-commerce space.

Seamless Transaction Experience

Customers can access KuCoin Pay as a payment method either by selecting it during checkout on the Uquid shop or through the KuCoin mobile application. Uquid’s integration within the KuCoin Pay section of the app via the Uquid MiniApp enhances the overall shopping experience, allowing users to make smooth and efficient purchases using digital assets. As blockchain payments continue to gain momentum, this partnership is expected to play a key role in expanding the practical use of cryptocurrencies in the retail industry.