Cryptocurrency exchange KuCoin has just announced KuCoin Pay, a new payment platform designed to help merchants accept cryptocurrency transactions.

KuCoin Pay is integrated with KuCoin (KCS) which is used by more than 37 million people around the world. By leveraging this user base, businesses can connect with more customers while simplifying the payment process.

According to the company's statement, customers can make payments by scanning the QR code or directly through the application.

The platform's goal is to make it easier for businesses to handle cryptocurrency payments. It offers lower fees, instant settlements, and support for many cryptocurrencies. Q Queen It specifically focuses on making cryptocurrency payments more accessible for everyday transactions.

Users can pay for items such as gift cards or mobile top-ups, which could help normalize the use of cryptocurrencies in daily life.

For businesses, setting up KuCoin Pay is easy. Merchants add the system to their existing payment platforms, making it easy to start accepting cryptocurrencies alongside traditional payments.

Crypto payments work using blockchain technology to process transactions. Unlike traditional payment methods, blockchain technology enables direct peer-to-peer transfers, often with lower fees.