KuCoin, a global digital asset trading platform, announced on Thursday the launch of a white-label solution, allowing its clients to set up fully functional crypto exchanges in 72 hours.
Dubbed KuCloud, the solution will offer two products – XCoin and XMEX – which will deliver the functionalities of the KuCoin Spot platform and platform respectively.
Commenting on the prospect, Johnny Lyu, co-founder of KuCoin, said: “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 announcement also detailed that local exchanges can offer features like spot trading, margin trading, staking, fiat gateway to up to 150x leverage futures trading with KuCloud. In addition, the platform is also customizable and can be moulded per the clients’ needs.
“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,” Lyu added.
White label solutions – the next big market
KuCoin cloud solution came days after . Binance Cloud can also be used in the future to launch virtual tokens via an IEO (initial exchange offering) platform and introduce the OTC trading service. Moreover, the platform also enables brokers, fund managers, and token issuers to quickly develop new revenue streams, access Binance’s native liquidity.
Last year, also came with a similar product and specifically targeted the Middle East and North Africa (MENA) region.
To stand out in a competitive market like this, KuCoin is offering zero-cost to launch crypto exchange for its initial customers as a promotional offer.