Cryptocurrency exchange KuCoin has unveiled a decentralized wallet platform with cross-chain features to expand its Web3 presence.
The wallet allows users to buy, sell, trade, and transfer multiple cryptocurrencies, including Bitcoin, Ether, and Tether, among other tokens.
KuCoin wallet is a self-custody protocol that enables users to retain control over their private keys. The exchange is looking to add DeFi, non-fungible tokens, and GameFi services in future plans.
The new feature will be implemented through the exchange’s NFT marketplace Windvane where users can access and trade their digital assets. Windvane launched a creator fund worth $100 million in April 2022 to support startups in the space.
The announcement follows a funding round by KuCoin, which raised $150 million in a pre-series B round in 2022. The exchange notes that the funding will target Web3, DeFi, and NFT.
Financial service firm Robinhood is another company that also introduced its own non-custodian cryptocurrency wallet in May 2022 with cross-chain capabilities.