As reported by CoinDesk, KuCoin, a prominent cryptocurrency exchange, has launched a new feature aimed at enabling merchants to facilitate direct payments from customers' accounts. This innovative tool, dubbed KuCoin Pay, allows merchants to seamlessly integrate the payment option into their existing systems. According to information provided in a recent press release from the exchange, “Customers pay by scanning a QR code or using the KuCoin app.”
This move positions KuCoin alongside a growing number of cryptocurrency payment providers that are working to streamline direct transactions for consumers, a crucial development intended to create a more cohesive link between cryptocurrency and traditional payment frameworks.
One noteworthy example from the past includes digital payments platform Flexa, which unveiled a similar offering in August, partnering with well-known retailers such as Chipotle, Mikimoto, Regal Cinemas, and 99 Ranch Market.
KuCoin's latest infrastructure supports a robust range of 54 cryptocurrencies, encompassing major digital assets like bitcoin (BTC) and ether (ETH), as well as popular stablecoins such as USDT and USDC.
An official spokesperson for KuCoin revealed that several merchants are already on board and anticipate launching this feature in January. However, the names of these merchants remain undisclosed at this stage.
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