• KuCoin integrates Web3 with a new decentralized wallet

  • KuCoin, a cryptocurrency trading site, has created a new decentralized wallet platform as interest in Web3 grows.

    KuCoin Wallet is now available to users, with the browser-based platform paving the way for a mobile app that is still in the works.

    The platform is integrated into the KuCoin ecosystem and supports cross-blockchain transactions. Users will be able to buy, sell, trade, and send cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and Tether (USDT), as well as other tokens.

    Because the wallet is self-custodial, users have complete authority and responsibility over their private keys.

    KuCoin Wallet’s future will involve the adoption of DeFi, NFT, and GameFi services as the cryptocurrency ecosystem continues to accept and promote decentralized finance (DeFi) and nonfungible token (NFT) features.

    At debut, this functionality is powered by KuCoin’s own NFT marketplace Windvane, allowing users to trade and display NFTs in the KuCoin Wallet. In April 2022, Windvane announced a $100 million “Creators Fund” to help promote and encourage early-stage NFT enterprises to build on the platform.

    KuCoin raised $150 million in a pre-series B round in 2022, with the company valued at $10 billion. The current investment round’s revenues will be used to continue developing Web3, DeFi, and NFT services and offerings within its ecosystem. KuCoin Labs and KuCoin Ventures will lead these initiatives, which have already resulted in the release of KuCoin Wallet.

    To keep up with the growing interest in Web3 capabilities, a number of notable cryptocurrency exchanges and service providers have lately released non-custodial, multi-blockchain wallets.

    Leading bitcoin exchange in the United States In May 2022, Coinbase incorporated Web3 capability with a wallet and browser for a restricted number of its mobile app clients. Trading on NFT marketplaces was a major focus, and token swaps and other DeFi services were made available via exchanges like as Uniswap and Opensea.

    Robinhood announced a future non-custodial cryptocurrency wallet with cross-blockchain accessibility in May 2022, as well as NFT storage and access to marketplaces. GameStop, an American brick-and-mortar gaming shop, has followed suit by launching its own blockchain wallet with NFT capability.

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