KuCoin enables encrypted POS payments via QR code

KuCoin has introduced a feature for merchants to allow customers to pay for purchases directly from their accounts on the cryptocurrency exchange.

Merchants can integrate the tool, called KuCoin Pay, into their payment systems. Customers pay by scanning a QR code or using the KuCoin app, the exchange said in a press release.

The exchange joins a number of cryptocurrency payment providers in facilitating direct payments for customers, a feature that is supposed to bridge the gap between cryptocurrencies and legacy payments infrastructure.

In August, for example, digital payments platform Flexa Advertise a similar product With retailers including Chipotle, Mikimoto, Regal Cinemas and 99 Ranch Market.

The new infrastructure supports 54 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and stablecoins USDT and USDC.

A KuCoin spokesperson said that many merchants, who expect to launch the feature in January, have signed up for the product. Their names cannot be revealed at this time.