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VICTORIA, Seychelles – Cryptocurrency exchange KuCoin has successfully introduced native swap functionality in the service’s flagship product – the KuCoin wallet. The new feature aims to provide users with a streamlined and convenient digital asset exchange at the lowest fees.
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KuCoin applies the innovative Pathfinder algorithm developed by 1inch in the KuCoin wallet application to give users access to the lowest rates based on the aggregation of over 250 liquidity sources. The launch became possible after extensive beta testing of KuCoin Wallet, which included over 70,000 registered users and provided valuable feedback on the functionality of the application.
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The native swap feature frees users from redirecting to third-party services and exchanges, allowing them to perform all swap operations directly from the KuCoin wallet. The swap also offers a high level of security provided by the non-custodial nature of the KuCoin wallet, which hands over all custody and access to the assets to the users. A 1% platform service fee is automatically factored into each transaction to fuel the development of the KuCoin Wallet and ensure more features and conveniences are added in the future.
“We always strive to tailor our product to the needs of all investors. Swap is a high-frequency feature of the wallet and 1 inch is one of the most popular DEXs in the web-3 industry, so we work together through native integration to provide our users with a smooth and cost-effective trading experience,” said Jeff Haul, the head of KuCoin Wallet, commented on the launch of the swap feature. Haul added that as a gateway to the Web 3 world, KuCoin Wallet is ready to integrate all excellent DApps that can bring great value to users.
The deployment of the KuCoin wallet is a major breakthrough for the exchange in its quest to ease the Web 3 user journey for its vast audience. The exchange is committed to evolving the service and allowing users to leverage newly added networks and liquidity pools as the built-in 1-inch protocol expands, further enhancing the experience and reducing fees.
About KuCoin
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. A user-centric platform focused on inclusivity and outreach of community action, it offers over 700 digital assets. Currently, it offers spot trading, margin trading, P2P fiat trading, futures trading, staking and lending to its 20 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investments via a pre-Series B round, bringing total investments combined with Round A to $170 million, with an overall valuation of $10 billion. KuCoin is one of the top 5 crypto exchanges according to CoinMarketCap. In 2021, Forbes named KuCoin one of the top crypto exchanges. In 2022, KuCoin won Ascent’s Best Enthusiast Crypto App award.
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About KuCoin Wallet
KuCoin Wallet is a secure and easy-to-use crypto wallet that supports multi-chain aggregation powered by the KuCoin ecosystem. With KuCoin’s security expertise and leading hack-tested security technology, KuCoin Wallet is a self-custody wallet that puts users in full control of their assets. KuCoin Wallet offers users the easiest way to manage multi-chain assets and allows them to buy, store and view NFT collections right in the wallet. KuCoin Wallet is a gateway to the world of Web3 for all crypto users.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220901005032/en/
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