Cryptocurrency Exchange KUCOIN have recently launched a feature which will allow users to control their funds while trading.
To enable this feature, Kucoin has integrated a new technology provided by Boston Start up – Arwen, which will give control of private keys to users while trading on Kucoin exchange. Arwen had made this announcement on Tuesday.
Mr. Eric Don, the president of Kucoin has told –“This feature will enable investors to trade in a centralised platform without worrying about their funds safety”.
The Startup had explained that it will enable secure trading between parties by relying on the traded Cryptocurrency’s native blockchain.
The Bitcoin trading security is ensured by using Bitcoin Blockchain and Bitcoin Cash trading security is provided by Bitcoin cash Blockchain.
The traders will need a KYC verified Kucoin exchange to use this feature and this feature is not available in the US and the countries sanctioned by the US country. Kucoin is also planning to build its own decentralised exchange.
The exchange has raised 20 million $ in the series A Funding round in the last November. The funding was supported by IDG Capital, Matrix Partners and Neo Global Partners.
The exchange has launched the Test net version of this protocol earlier this year.
0n 17-04 Bitcoin was trading at $5,230 showing gain of 2.5% with the market cap of 92.3 billion USD and Ethereum was trading at $166 showing gain of 1.8% with the market cap of 17.6 billion USD.
For more information follow our telegram channel.