- KuCoin exchange joins forces with VISA to issue the long-awaited KuCard.
- EU customers can apply for a physical card after meeting KYC requirements.
- KuCoin launches KuCard giveaway to commemorate the crypto card launch.
KuCoin, one of the world’s leading crypto exchanges, is rolling out its highly anticipated KuCard program in partnership with VISA. Expectations for blockchain technology are constantly growing, and as crypto has taken the spotlight for its steady growth over the past decade, the industry is looking to make its next big step. Crypto enthusiasts are eager for crypto to step out of the shadows and take its place as a major financial instrument. For that dream to become a reality, the infrastructure must first be in place.
KuCoin’s KuCard
KuCoin announced the launch of its new physical debit card service across the European Economic Zone on November 21st, 2023. The exchange emphasized that the new KuCard would allow crypto enthusiasts something they’ve long craved: to spend their favorite cryptocurrencies in local physical shops and restaurants and to cash out their crypto profits in a regular ATM.
At the time of writing, the KuCard only supports transactions made in Tether’s USDT stablecoin and the euro, though the site suggests that more currency options are on the way.
Ultimately, the exchange hopes to bridge the gap between digital and traditional payment methods, as crypto traders will gain the ability to spend cryptocurrencies straight from their KuCoin funding accounts. KuCoin revealed that the VISA KuCard works with both Apple Pay and Google Pay, giving users versatile spending options using the KuCard.
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KuCoin launched a duplex bonus campaign for the platform’s existing customers to celebrate the launch. The announcement emphasized that all users who top up their Euro balance with SEPA methods are eligible to win up to $50 USDT when they purchase cryptocurrencies with the fiat. Secondly, users who deposit Euro and use their VISA KuCard for the first time will get an additional $2 in USDT.
How to Obtain a VISA KuCard
KuCoin’s anticipated VISA KuCard releases after an almost two-year-long wait, having first been announced in 2021. For a one-time fee of €9.99, the exchange’s users can now apply for the new card by heading to KuCoin’s Funding wallet and clicking on the ‘KuCard’ tab, redirecting customers to the KYC requirements page.
To be eligible for the card, KuCoin users must have their Proof of Address (PoA) pre-approved by the KYC team and are further to bind their mobile phone number to apply.
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After these requirements have been met, the customer can customize the card by entering their initials or full name. Once the personalization is done, the platform’s team will review the KuCard application and the physical debit card will be issued quickly.
On the Flipside
- While KuCoin has global expansion plans, at the present time, KuCard is not available for American residents.
- While KuCard currently only supports the stablecoin Tether (USDT), most competitors like Binance and Bybit offer payment support for the largest cryptocurrencies like Bitcoin (BTC), and Ether (ETH), as well as fan favorite cryptocurrencies like Shiba Inu (SHIB), XRP (XRP).
Why This Matters
Debit cards supporting cryptocurrency payments unfold new utility cases, and significant real-world adoption opportunities as crypto becomes a part of everyday life consumption.
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