Prominent crypto exchange KuCoin announced on Wednesday that it has added support for the Canadian Dollar. In its official tweet, KuCoin stated that users will now be able to buy crypto using CAD on its Quebec based crypto trading platform Simplex.
KuCoin Adds Support for Canadian Dollar (CAD)🇨🇦
— KUCOIN (@kucoincom) February 19, 2020
KuCoin made an official press release on its website regarding the latest addition in fiat support that makes the Canadian Dollar the 12th fiat currency after USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND, and IDR. The company further added,
To access this service, users can visit the “Buy Crypto with Credit Card” page, select the Simplex platform, click next, and set the payment currency to Canadian dollar (CAD), and you can use this fiat currency to buy crypto directly.
The future of cryptocurrency markets heavily depends on tapping traditional investors, which is possible if they are given ample liquid options. For starters, having the option to buy and sell digital token in fiat currencies is extremely important, especially in countries where crypto markets are quite young.
Major crypto companies like KuCoin, Binance, Coinbase, etc realize this, and therefore, they are spending extra efforts on introducing as many fiat options as possible. KuCoin, in particular, is stepping up its game and is expanding aggressively. Recently, the company extended the support for its mobile-based services to countries like the United Kingdom, Canada, Thailand, the Philippines, China, India, Turkey, and Indonesia.