KuCoin has joined the Web3 world after unveiling a new decentralized wallet with multiple functionalities, including NFT, DeFi, and blockchain trading.
KuCoin Non-Custodial Wallet Ready, GameFi, and DeFi Services to Come Later
Crypto trading platform, KuCoin has unveiled its new decentralized wallet as interest in Web3 intensifies on the market. The wallet is now live for KuCoin users, with the browser-based platform coming first as the development of the mobile app continues.
The wallet is a crucial addition to the KuCoin ecosystem and comes with a number of cross-blockchain integrations. So, users can now be able to send, buy, sell and trade different cryptos, including Ether (ETH), Bitcoin (BTC) and Tether (USDT), among other tokens.
The wallet is self-custodial, providing users with total control and responsibility for their private keys.
As more crypto ecosystems continue adopting and supporting non-fungible tokens (NFTs) and decentralized finance (DeFi) functionality, the KuCoin wallet is also on the path to adding NFT, DeFi, and GameFi services.
Windvane, the KuCoin’s proprietary NFT marketplace, is powering the NFT functionality, allowing users to view NFTs in the KuCoin wallet. In April 2022, Windvane announced a USD100 million “Creator Fund” to support early-stage NFT projects on its platform.
In a pre-series B round in 2022, KuCoin raised USD150 million, led by Jump Crypto. The money raised from the recent fundraising will be used to support the development of NFTs, DeFi, and Web3-based services in its ecosystem. These efforts are spearheaded by KuCoin Ventures and KuCoin Labs, with the launch of the KuCoin wallet signifying impressive progress.