The KuCoin Exchange Platform offers specialized business services to institutional investors.
The platform also responded to allegations made by a Chinese journalist that the podium offices in Hong Kong were empty and accused of carrying out suspicious activities.
KuCoin Investor Program
The exchange platform, which indicated that its headquarters in Singapore announced the launch of a program for institutional investors in a partnership on its blog, was published on Wednesday (August 8, 2018).
According to the announcement, KuCoin would like to encourage more big money players to participate in large-scale swap transactions.
Qualified investors will also receive discounts on trading fees, the statement said.
According to KuCoin, interested institutional investors will have to complete KYC. Once the verification step is complete, all large money traders will be set up within five business days.
KuCoin plans to offer discounts on fees ranging from at least 20% to 80% in the first month of trading.
The decision to introduce an institutional trading platform comes as many other players in the foreign exchange market like Coinbase and others do, and they do the same.
Earlier this year, the platform announced a first-quarter profit of $ 7.6 million in the first quarter of 2018.
The KuCoin digital currency platform responds to the allegations of the empty Hong Kong office
In another development, a controversial issue has emerged regarding the KuCoin operations. In his medium article, journalist Jackson Wong alleged that a registered address allegedly belonging to KuCoin in Hong Kong does not exist. Wong has always questioned KuCoin's claims that it operates outside of Hong Kong.
To confirm his suspicions, Wong visited the KuCoin address listed in Hong Kong and found that the platform was not actually working from that location. In his article on the blog, Wong warned traders to be wary of cheating out of KuCoin, saying:
Since KuCoin is completely stealthy, we have not been able to find it in its registered "office" and there is not even one person in their "office" if KuCoin decides to get out of the fraud - either by withholding withdrawals or by simply closing the stock exchange In full and working with our money - we will have no challenge and no luck in trying to recover your money.
As we mentioned earlier in our article on the report of journalist Jackson Wong that the offices of the Kucoin platform in Hong Kong empty and reminded us that we will provide you with the response to the podium about it in case of issuance [...]
