KuCoin Releases a Crypto Wallet That Supports NFTs

Credit: KuCoin

On June 1st, the Seychelles-based exchange KuCoin rolled out its first non-custodial browser-based crypto wallet. In addition to storing cryptocurrencies from dozens of blockchains, KuCoin’s new wallet will let NFT fans protect and display their favorite digital collectibles. 

Currently, the KuCoin Wallet only connects with the company’s primary NFT market Windvane. However, KuCoin says it will soon introduce more integrations with Web3 like dApps for NFT trading, DeFi, and blockchain-based gaming. 

KuCoin also says it’s working on a mobile version of its non-custodial crypto wallet. There’s no official release date for this mobile app, but reports suggest it should be available in beta sometime this month. 

In recent interviews, KuCoin’s CEO Johnny Lyu said the KuCoin Wallet is “proof” that his company wants to help clients seamlessly “enter the Web3 field.” Lyu also pointed out that the KuCoin Wallet could help “extend [KuCoin’s] business further” outside its primary trading platform. 

KuCoin says the blockchain company Hacken reviewed its Web3 wallet before launch to verify its cybersecurity standards. 

Interestingly, news of KuCoin’s crypto wallet comes shortly after the company announced a $100 million fund to support NFT projects on its Windvane market. Also, to coincide with its KuCoin Wallet launch, KuCoin announced a genesis NFT collection called Zzoopers on Windvane. 

According to recent reports, KuCoin is one of the world’s largest centralized crypto exchanges, with a market cap of about $10 billion.

More Exchanges Entice Clients with Web3 Wallets 

Although ConsenSys’ MetaMask is the most downloaded Web3 browser extension, there’s a growing list of competing options from centralized crypto exchanges. For instance, both Coinbase and Crypto.com have software wallet apps that can store NFTs. Binance — the world’s largest crypto exchange — also owns the popular crypto app Trust Wallet. 

More recently, the trading app Robinhood said it was developing a Web3 wallet that would include NFT storage. The company also hinted its upcoming wallet would feature a “no-fee” structure similar to its “commission-free” stock and crypto trading platform. 

Interestingly, the major crypto exchange FTX now has a significant stake in Robinhood. Some in the crypto industry speculate Robinhood’s upcoming Web3 wallet may connect to the FTX exchange. 

But it’s not just crypto trading sites that are developing Web3 wallets for NFTs and cryptocurrencies. As Rarity Sniper recently reported, the video game retailer GameStop just launched its Ethereum-compatible browser extension. 

Currently, anyone using Brave or Chrome could download GameStop’s crypto wallet on their desktop. An iOS version of GameStop’s crypto wallet should be released shortly. 

So, no matter which site NFT collectors most enjoy using, there’s certainly no shortage of compatible crypto wallets.