KuCoin Joins Binance, Huobi In Offering A White-Label Crypto Exchange Solution
The global digital asset trading platform KuCoin has made on Thursday the announcement that it’s launching a white-label solution that will allow its customers to make in only 72 hours fully functional crypto exchanges.
The platform will be called KuCloud and have 2 products to offer: XCoin and XMEX. Both these products will include KuCoin Spot and KuMEX Futures’ functionalities. Here’s what KuCoin’s co-founder Johnny Lyu said about KuCloud:
“The idea of KuCloud started in 2018 as a concept called ‘subnets’, with which we intended to give our exchange a powerful advantage when expanding into new markets since each new exchange can act as a separate entity.”
The Platform Will Be Customizable
Details about what the platform will offer were also presented in the announcement. Therefore, KuCloud will provide services of staking, spot trading, fiat gateway to as much as 150x leverage KuCloud futures trading, and margin trading. Besides, the platform will be customizable according to every client’s needs. Lyu added that:
“Now we go one step further and upgrade the ‘subnets’ to KuCloud, eliminating the difficulties and hassle of opening a crypto exchange, allowing all our partners to build crypto-related platforms with us to contribute to the liquidity and mass adoption of crypto.”
White-Label Solutions are the Future
KuCoin comes to present KuCloud soon after Binance announced the launch of a similar product. Binance Cloud will also introduce coins through an initial exchange offering (IEO) platform and use the over-the-counter trading service. More than this, it will also enable token issuers, fund managers and brokers to develop new streams of revenue and access the native liquidity of Binance.
In 2019, Huobi presented a product that’s quite the same and targets customers in North Africa and the Middle East (MENA region). In order to compete with Binance and Huobi, KuCoin comes with zero fees for launching crypto exchanges, but only for its initial clients.