KuCoin Crypto Service Launches Non-Custodial Trading
The KuCoin trading platform has provided its users with the possibility of non-custodial trading following the collaboration with the Arwen startup. The announcement is published on the website of the crypto exchange.
The new service is available for registered customers. The exchange integrated the solution of the Arwen startup, allowing users of trading platforms to control the private keys.
KuCoin representatives believe that cooperation with Arwen will bring new opportunities related to customer security. They will be able to protect their tokens and conduct transactions in pairs instantly, using wallets.
Currently, users have access to the Arwen beta, where they can trade bitcoin, Litecoin, and Bitcoin Cash. KuCoin recommends to use Arwen for testing, to begin with, and then go to the mainnet for trading. This will ensure uninterrupted operation.
Deposits are limited to about $100, and transactions — to the amount of $25. The exchange issued a warning that trading operations are not available to users from the US, China, North Korea, Cuba, Iran, Syria, and the unrecognized Republic of Crimea.
Thanks to cooperation with Arwen, KuCoin has taken the first step in storing users' funds in a decentralized way, while ensuring their security, Michael Gan, the exchange's chief executive, stated. He added that KuCoin will soon open its own trading platform based on distributed ledger.
Previously, KuCoin conducted an internal investigation concerning the individuals who used scripts during an initial exchange offering and decided to take away their tokens.