Fast-growing crypto exchange, KuCoin has launched a new decentralized wallet initiative. According to the announcement by the CEO of KuCoin, Jonny Lyu, the wallet features Cross-blockchain trading, Defi, and NFT options.
Furthermore, the new wallet is readily available for traders via browsers with the team still working on the application version. The move comes from the trading platform’s quest to venture more into Web 3.0. With the new KuCoin decentralized wallet, Traders can explore trading options within varieties of tokens such as Bitcoin, Ethereum, and Tether.
Features of KuCoin decentralized wallet
In addition, as a self-custodial wallet, traders are bestowed the authority to gain full control over the security of their wallets. The recent development adds KuCoin to the league of crypto exchanges with decentralized wallets. The likes of leading exchanges like Coinbase and Robinhood have concurred with the idea of a decentralized wallet.
Also, the KuCoin NFT marketplace Windvane allows users to sell, buy and view their collection in the wallet. This supports the wallet’s roadmap for the inclusion of GameFi services, NFT and DeFi into its platform. As expected, the development aligns with the increasing embracement of DeFi and NFT options within trading platforms. The KuCoin decentralized wallet allows users to create accounts for Web 3.0.
Meanwhile, The CEO of KuCoin, Johnny Lyu underlines the importance of crypto wallets as a gateway into Web 3.0. He describes the development as KuCoin’s effort to venture into Web 3.0 with a mission to extend beyond trading and finance.
Also, the Head of KuCoin Wallet, Jeff Haul revealed that the firm is committed to offering the best options to traders. He disclosed that the app of the KuCoin Decentralized wallet will fly this month with a test ongoing for the beta version.
Efforts of trading platforms towards Web 3.0
Overtly, the trading platform has emphasized its commitment to pushing Web 3.0 and NFT into the next verse. Last April, through Windvane, KuCoin launched a Creator fund with close to $100 million to attract NFT initiatives. Through the Creators fund, emerging NFT projects are encouraged to start their project on KuCoin.
Another notable effort by the team toward this course is the funding round early this year. KuCoin bagged $150 million to build Web 3.0, DeFi, and NFT services in its space. Lastly, the manifestation of the KuCoin decentralized wallet is a result of the funding round.