KuCoin Launches a New Non-Custodial Wallet to Explore Web3 Technology

KuCoin Launches a New Non-Custodial Wallet to Explore Web3 Technology

NFT marketplace dubbed Windvane backs KuCoins Wallet's functionality and provides its users the functionality of trading non-fungible tokens in the wallet.

On June 1, one of the largest world’s crypto exchanges dubbed KuCoin launched its own decentralized wallet which users will be able to use through the platform’s official website later today. The mobile app is reportedly still in the works, according to KuCoin.

The wallet provides players in the crypto world the ability to buy, sell, trade, and send a number of cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Tether (USDT), and BSC among other coins.

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Moreover, KuCoin Wallet’s roadmap will involve the adoption of DeFi, NFT, and GameFi services as the crypto exchange is largely interested in exploring the use of Web3 technology.

KuCoin also takes great responsibility for securing the new wallet that is backed by a cybersecurity firm for Web3 initiatives dubbed Hacken. CEO of KuCoin, Johnny Lyu, implied:

“As a gateway to the web3 network, crypto wallets are an important requirement for users to participate in the decentralized ecosystem. They are now much more developed than just a method to store digital assets.”

Lyu also suggests that the new platform provides another example of KuCoin’s dedication to participating in the rapid growth of Web3 technology.

On top of that, according to Head of KuCoin Wallet Jeff Haul, KuCoin will always prioritize the needs of various traders in the crypto market. For instance, the non-custodial wallet will provide its users with complete control over their private keys.

Fun fact, earlier this year, the trading platform Robinhood announced that it would launch a new non-custodial wallet that will possibly see the light of day at the end of this year. In addition, an American video game retailer dubbed GameStop also unveiled a new Web3 Ethereum (ETH) based wallet for crypto and NFTs that was launched on May 23.

Gyth L. - Crypto Analyst

by Gyth L. - Crypto Analyst, BitDegree


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