KuCoin Expands Its Merchant Service to Allow Users to Complete Mobile Transactions with Cryptocurrency

KuCoin Pay has tapped payment protocol AEON to allow users to pay for goods and services online and in-store using cryptos such as bitcoin

Crypto exchange KuCoin is expanding its offering to enable users to complete mobile transactions using cryptocurrency with the integration of payment protocol AEON.

KuCoin Pay, the merchant services arm of the exchange, has tapped AEON to allow users to pay for goods and services in-store and online using cryptocurrencies such as bitcoin (BTC) and ether (ETH). The service is being launched in several “high-growing Asian markets” with plans to expand to new regions in the future, a KuCoin spokesperson told CoinDesk.

KuCoin, like other crypto firms, is keen to find ways to make it easier for users to spend cryptocurrency as part of their daily transactions to facilitate broader adoption of digital assets. The Seychelles-headquartered exchange launched KuCoin Pay earlier this year, allowing merchants to integrate the service and accept cryptocurrency payments.

The tie-up with AEON is part of efforts to boost adoption of KuCoin Pay by offering faster and more secure mobile payments that can be used on all major blockchains.

The integration will allow users to scan a QR code to pay with cryptocurrencies in-store or online through a seamless checkout experience.

KuCoin and other crypto firms have been expanding their offerings to cater to the growing demand for cryptocurrency payments. A recent report by Chainalysis found that cryptocurrency payments are on the rise, with an estimated $1 billion in cryptocurrency being used for payments in 2022.

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