KuCoin, the cryptocurrency exchange, has announced a $2 billion "Trust Project" to counter skepticism towards centralised crypto platforms, the company announced at the TOKEN2049 summit.
The initiative, unveiled to over 15,000 attendees, will focus on security, transparency, and regulatory compliance as the exchange seeks to rebuild user faith amid industry-wide scrutiny.
Crypto exchanges have faced increasing heat over asset safety and inconsistent regulations, gaps which KuCoin aims to address with its multi-year plan. The project is already in motion, and the goal is to create a more trustworthy and sustainable cryptocurrency ecosystem.
KuCoin's CEO, BC Wong, made the announcement at the TOKEN2049 summit in Paris. The project will be funded by a combination of KuCoin's own resources and contributions from third-party investors.
The project will also see the launch of a new KCS governance program, which will give token holders a say in how the exchange is run.
"We are committed to building a better, more trustworthy cryptocurrency industry," said Wong. "This project is a testament to our belief that together, we can create a brighter future for Web3."
KuCoin has 38 million users globally and is particularly strong in Latin America and the Middle East, where it is seeing rapid growth. The exchange is also a leading supporter of the Stellar blockchain ecosystem.
The project will be divided into four main pillars:
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