March 26, 2024
By Anjali Kochhar
KuCoin, a prominent global exchange platform, has achieved a significant milestone by becoming the first Financial Intelligence Unit (FIU)-compliant global crypto exchange in India. This achievement underscores KuCoin’s dedication to regulatory adherence and safeguarding user interests, marking a pivotal moment in the broader acceptance of cryptocurrencies in the Indian market.
Johnny Lyu, the CEO of KuCoin, highlighted the paramount importance placed on safeguarding user assets and ensuring compliance with regulatory standards. He stated, “KuCoin places utmost importance on user asset security. By successfully completing this registration in India, we are set to enhance the Indian users’ experience and reaffirm our dedication to compliance and security.”
Since its launch in September 2017, KuCoin has rapidly expanded its presence globally serving a vast user base exceeding 30 million individuals across more than 200 countries and regions. KuCoin’s strategic initiatives include forging partnerships with local banks and fiat partners to introduce specialised payment solutions tailored for Indian users. This includes unique on-ramp and off-ramp services, along with a partnership enrolment program designed to onboard more partners and provide seamless services.
Moreover, KuCoin is set to focus its investment efforts on blockchain projects with an India-centric approach, aiming to support the sustainable development of the local crypto industry. The exchange also reiterates its commitment to collaborating with regulatory authorities to promote a secure and regulated environment for cryptocurrency trading in India.
Education and ecosystem development are also key focal points for KuCoin’s future endeavours in India. Through initiatives like KuCoin Campus, the exchange plans to partner with educational institutions to enhance blockchain understanding among students and provide access to technology and ecosystem resources. This initiative aims to contribute significantly to the overall development of the blockchain industry in India.
As part of its glo-cal strategy, KuCoin will establish a dedicated, localized team to cater to the specific needs of Indian investors and users. This approach underscores KuCoin’s global outlook with a strong emphasis on localization, ensuring a personalised and user-centric experience for Indian stakeholders.
This historic achievement by KuCoin marks a significant milestone in India’s crypto landscape heralding a new era of enhanced adoption, innovation, and collaboration within the burgeoning blockchain community.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.
