Digital asset trading platform, KuCoin, released a statement on Thursday that it had launched a white-label solution that will give its clients the ability to access fully functional crypto exchanges within 72 hours. The white-label solution is called KuCloud and will feature two different products – XMEX and XCoin. Each will provide the functions of both the KuMEX Futures platform and KuCoin’s Spot platform
Co-founder of KuCoin, Johnny Lyu spoke about the new platform stating: “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.”
KuCoin’s announcement also outlined that other local exchanges will be able to offer staking, margin trading and fiat gateway for up to 150x leverage futures with KuCloud. Additionally, LuCoin has designed the new platform to be customizable around each clients’ needs.
Adding to his comments, Lyu stated: “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,”
White label solutions are the next big market
The KuCoin cloud solution comes just days after a similar product was announced by Binance. Called the Binance Cloud, it is designed to launch future virtual tokens via an initial exchange platform and has the ability to introduce OTC trading services. Additionally, the Binance Cloud positons fund managers, token issuers and brokers to be able to generate new streams of revenue quickly due to the native liquidity offered by Binance.
In 2019, Huobi also released a product that is similar to KuCoin’s and Binance that was released to target North Africa and the Middle East specifically. To generate interest quickly after its release, KuCoin is offering its clients a zero-cost to launch crypto exchange as a promotional offer.