KuCoin has Partnered with Bitnbox to Accelerate Crypto Payments

• KuCoin has collaborated with Bitnbox.
• KuCoin has called this a major step.
• The objective is to boost crypto payments.

KuCoin has announced a partnership with Bitnbox, a payment partner of merchants. The objective is to accelerate crypto payments – thereby, bridging the gap between crypto infrastructure and real-world commerce. The collaboration extends to eligible merchants across the world.

KuCoin and Bitnbox

KuCoin, or KuCoin Pay to be more specific, has joined hands with Bitnbox. With this, businesses gain access to the wide use base of KuCoin Pay. At the core of the partnership is the acceptance of cryptocurrencies, including stablecoins, through Bitnbox. This is expected to curb risks related to volatility.

KuCoin has called this a major step in the direction of bridging the gap between real-world commerce and crypto infrastructure. The B2B crypto payment platform comes into the picture with its compliant and simplified operations. These include accepting crypto payments, supporting stablecoins, and executing settlements to bank accounts.

The partnership, according to the official detailed announcement, reflects the vision shared by KuCoin and Bitnbox. It further underlines that the partnership unlocks new revenue streams and accelerates crypto adoption.

Reportedly, Bitnbox processed more than $1 billion in transaction volume last year. KuCoin Pay is known for supporting more than 50 cryptocurrencies, including, but not limited to, USDT and BTC.

KuCoin, Recently

KuCoin has followed this development with two more updates. It has listed EDGEUSDT perpetual contract pre-market trading and completed the migration of Nillion (NIL).

The underlying asset in the pre-market trading update is EDGE, with USDT as the settlement crypto. The funding fee settlement frequency currently runs at an interval of four hours. Trading hours are 24/7 and the maximum leverage is 5x.

The migration happened from NilChain to Ethereum (ERC20), wherein old balances were converted into a new token in a 1:1 ratio. Deposit and withdrawal services for NIL were last reported to have commenced.

Crypto Prices

A partnership between KuCoin and Bitnbox is important because crypto payments are gearing up with cross-border transactions as one of the most crucial requirements. Meanwhile, crypto prices have held steady over the last 24 hours. ETH has lost significant value, but the cryptocurrency has stayed above the $2k mark.

BTC is trading at $70,770.74, down by 0.11% during the said timeline. ETH is exchanging hands at $2,147.28, when the article is being written. BCH and LEO stand out at the moment with respective gains of 1.62% and 0.22%.

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