KuCoin digital currency exchange has launched an institutional investor program through which the exchange will start offering discount to institutional investors who undertake bulk transaction on the platform.
Qualification for admission into the program
The exchange has set out a set of requirements that investors will be required to meet before being admitted into the institutional investor program. Investor will be qualified basing on their trading activities. Quantity and trading frequency are some of the factors that will be used to select the right candidates. Those who meet the set conditions and have a trading history that meet the set threshold can apply to be admitted into the program by filing an online form on the exchange’s website. Investors whose applications are approved will access discounts up to 80% for a period of 30 days.
KuCoin is not the first cryptocurrency company to target institutional investors. Coinbase has since announced that it plans to launch Coinbase Custody, a cryptocurrency storage platform meant for wealthy, as well as institutional investors.
When launched, the new platform is expected to support more than 30 different digital currencies. Apart from Coinbase Custody, Coinbase has also announced that it will be unveiling three products that target new customers.
Binance also targeting institutional investors
Apart from KuCoin and Coinbase, Binance has also rolled out several incentive programs that promote adoption and use of cryptocurrencies. The exchange has also put in place measures to attract large-scale investors.
Recently, Binance increased its daily bonus rewards issued to holders of KuCoin Token (KCS). The reward was increased by 50%. The reward applies to all transaction fees on the platform. Every day, KuCoin pays GAS rewards to all traders that have NEO balances on the platform.
KCS is currently in the 5th position on the AltDex Exchange Token Index (ALTEXC).
Kucoin clarifies after rumors of empty office
The exchange has come out to defend itself and clarify after rumors emerged that its listed offices and address in Hong Kong are empty. In a statement, the company said that its headquarters are in Singapore that the Hong Kong office is just used for mailing purposes.