KuCoin Unveils New PoS System, “KuCoin Pay,” to Simplify Crypto Payments for Merchants

KuCoin has unveiled a new point-of-sale (PoS) system that allows users to make payments to businesses directly from their exchange accounts.

Crypto exchange KuCoin has announced the launch of a new point-of-sale (PoS) system, enabling users to make payments to businesses directly from their exchange accounts.

The system, dubbed “KuCoin Pay,” will allow merchants to integrate crypto payments into their systems, making transactions easier for customers who can complete purchases by scanning a QR code or using the KuCoin app.

The new feature supports around 54 different cryptocurrencies, including Bitcoin, Ether, Tether, and USD Coin. According to KuCoin, the introduction of this feature could present new opportunities for merchants by tapping into the exchange's large user base and streamlining the purchasing process. The company suggests that the seamless checkout could encourage broader adoption of cryptocurrencies.

This development is part of a broader trend of expanding crypto payment options in the market during Q4 2024. On October 9, Stripe introduced stablecoin payments using USDC, which saw adoption in 70 countries on its first day.

Similarly, Wirex launched a service allowing payments with crypto assets via non-custodial wallets, giving users full control over their funds.

Further expansions in crypto payment capabilities were seen with FV Bank, which launched debit and corporate credit cards in collaboration with Visa, accepting stablecoins as well as major cryptocurrencies.

In November, Sheetz also expanded its support for crypto payments through a partnership with Flexa, allowing payments at its 750 US locations with assets like USDC, Bitcoin, and Ethereum.