KuCoin Becomes First Global Crypto Exchange to Get Permission from India's Financial Intelligence Unit

Liputan6.com, Jakarta – KuCoin, one of the global cryptocurrency exchange industry leaders, is among the seven largest cryptocurrency exchanges worldwide, becoming the first global crypto exchange to obtain India's Financial Intelligence Unit (FIU) approval.

This achievement is an important moment in the development of the crypto asset industry in India, especially amidst recent regulatory changes. Moreover, this achievement reflects KuCoin's dedication to expanding its reach in key world markets as part of its global strategy.

In addition to the permission obtained from FIU, KuCoin will undertake a number of initiatives to improve services for local users in India. One of them is Payment Solutions in the Local Market. In this regard KuCoin will collaborate with local banks and fiat payment providers to launch unique and direct on-ramp and off-ramp services designed specifically for India.

On the other hand, KuCoin will also launch a partnership program to recruit more partners and provide easier and friendlier services.

CEO, KuCoin Johnny Lyu explained, KuCoin really prioritizes the security of user assets. After successfully achieving this authorization in India, KuCoin is ready to enhance the user experience in India, as well as increase its commitment to regulatory compliance and security aspects.

“With this achievement, we are broadening the discourse on the level of crypto adoption in India, raising issues around user security and service excellence trading,” he said in a written statement, Sunday (5/5/2024).

Johnny Lyu continued, this achievement accelerates investment and market education initiatives in India. The target is to stimulate industry growth and encourage the sustainable development of the blockchain industry.

“We want to support local innovation and establish educational partnerships to contribute to the blockchain ecosystem in India. With this development, KuCoin welcomes various partners to join, as well as promote the development of the crypto industry in India.”

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