KuCoin plugs into Web3 with new decentralized wallet

Sebastian Parker
Sebastian Parker
Last Updated on June 1, 2022

KuCoin, a cryptocurrency trading platform, has launched a new encrypted wallet platform to keep Web3 interest alive.

KuCoin Wallet now available for users. The browser-based platform paves the way for a mobile app, which is still being developed.

This platform is integrated into KuCoin’s ecosystem. It also features cross-blockchain integration. The platform will allow users to trade, buy, and send a variety cryptocurrencies, including Bitcoin ( Bitcoin), Ether( ETH), and Tether ( UST), as well as other tokens.

The wallet can be used to store private keys and is fully self-custodial.

KuCoin Wallet will add DeFi, NFT, and GameFi services to its roadmap as the cryptocurrency ecosystem continues adopting and supporting decentralized finance (DeFi), and nonfungible tokens (NFT) functionality.

This functionality is powered by KuCoin’s NFT marketplace Windvane, which allows users to view and trade NFTs within the KuCoin Wallet. Windvane launched a $100,000,000 “Creators Fund”, in April 2022, to support early-stage NFT projects and encourage them to continue to develop on the platform.

KuCoin received $150 Million in investment in a preseries B round in 2022. The firm is valued at $10 billion. The proceeds from the most recent fundraising round will be used by the firm to develop Web3, DeFi, and NFT services within its ecosystem. KuCoin Ventures and KuCoin Labs will lead these efforts, which already saw the launch of KuCoin Wallet.

Similar: GameStop launches beta cryptocurrency wallet, NFT platform

To keep up with Web3functionality interest, a number of well-known cryptocurrency exchanges and service providers recently launched multi-blockchain, non-custodial wallets.

The leading cryptocurrency exchange Coinbase in the United States integrated HTML3 functionality with its wallet and browser to a select number of its mobile clients in May 2022. NFT trading was a major focus. Token swaps and other DeFi services were also made available through exchanges such as Uniswap or Opensea.

Robinhood promoted an non custodial cryptocurrency wallet with cross-blockchain access in May 2022. It will feature NFT storage and easy access to marketplaces. GameStop , an American brick-and mortar gaming retailer, followed Robinhood’s lead by launching its own blockchain wallet. It will also offer NFT storage and access to marketplaces.