KuCoin debuts cryptocurrency payment acceptance tool for merchants

Q Queen It provided a solution designed to bring cryptocurrency payments to the retail sector.

Digital asset exchange Q-Quin pushed It aims to bridge “the gap between traditional retail and cryptocurrencies, offering contactless and borderless transactions,” according to a press release Thursday (January 2).

“By leveraging KuCoin’s robust infrastructure – trusted globally and serving more than 37 million users – KuCoin Pay is poised to open new opportunities for merchants and users to thrive in the evolving digital economy,” the statement read.

The platform supports a range of cryptocurrencies and blockchain networks, allowing customers to complete purchases via KuCoin – once integrated into the merchant’s payment system – by scanning a QR code or using the KuCoin app, depending on the release.

The integration with the app allows “businesses to leverage KuCoin’s user base while simplifying the process of purchasing everyday items for users,” the statement said. “Everyday orders such as gift cards and mobile top-ups can be done seamlessly, further promoting widespread adoption of cryptocurrencies.”

Stablecoins Cryptocurrencies – linked to stable assets such as fiat currencies – are a viable means of international transactions. PayPal and circleFor example, it launched its own stablecoins to modernize cross-border money transfers and business-to-business transactions.

PYMNTS Intelligence ReportCan Blockchain technology solve the puzzle of cross-border payments?“I addressed how blockchain technology could revolutionize cross-border payments, explored its current adoption and considered future implications for financial institutions and businesses.

Stablecoins offer near-instant settlement and lower transaction costs, but challenges remain such as regulatory clarity that changes from jurisdiction to jurisdiction, creating obstacles to their widespread adoption.

Meanwhile, Crypto payments It remains uncharted territory for many consumers.

“Companies must clearly explain the steps involved, including cryptocurrencies It is accepted And any fees apply,” PYMNTS reported in November. “Offering educational resources or support channels can make it easier for customers to adopt.”

As cryptocurrency adoption grows, keeping up with regulatory changes is also crucial for consumers and merchants.

“The main obstacle to its spread Adopting a stable coin “Outside the cryptocurrency ecosystem there is a lack of regulatory frameworks.” Tony McLaughlin,Payments originating in City Serviceshe told PYMNTS in November.