Blockstack’s STX Token Starts Trading on KuCoin Today
Lucas Cacioli May 27, 2020 10:00
Blockstack is increasing its presence in Asia with the addition of its token Stacks (STX) to popular Asian-based cryptocurrency exchange KuCoin.
Blockstack is increasing its presence in Asia with the addition of its token Stacks (STX) to popular Asian-based cryptocurrency exchange KuCoin.
Blockstack PBC is a creator of software for a user-owned internet and secure app ecosystem. As announced, Blockstack’s Stacks token (STX) will be available for trading at 6am ET today May 27, by non-U.S. persons on KuCoin, a popular Asia-based cryptocurrency exchange.
KuCoin currently serves 1 out of every 4 cryptocurrency holders globally and has more than 5 million registered users. The live trading of STX on this exchange will increase global access to the Blockstack network.
Muneeb Ali, CEO of Blockstack PBC commented on the STX addition to KuCoin, “This listing is an important one for our overall ecosystem. KuCoin’s strong global presence will enable the Blockstack ecosystem to make further progress after a very busy 12 months for the company. Kucoin prides itself on conducting extensive research to list quality projects in the blockchain industry, and we are thrilled for our project to be a part of its community.”
The Stacks token plays a very vital role in Blockstack’s ecosystem. STX tokens are used for registration of internet assets and will be consumed as fuel for smart contracts written in Clarity. The Stacks token is also a key aspect of the upcoming Stacks 2.0 launch. With the launch of Stacks 2.0, STX miners will be able to forward bitcoin (BTC) to participate in mining, and STX holders will be able to earn Bitcoin by participating in consensus.
Stacks are vital to Blockstack’s ecosystem and are used for registration of internet assets and will be consumed as fuel for smart contracts written in Clarity. As part of the anticipated Stacks 2.0 launch in mid-2020, internet assets on the Stacks blockchain will anchor to Bitcoin. The interconnection of Stacks with Bitcoin provides a scalable foundation for a Web 3.0 rooted in the security of Bitcoin.
This listing follows Blockstack’s first annual report filed with the SEC. The Stacks (STX) token is believed to be the first and only crypto asset listed on CoinMarketCap for which regular disclosures are filed with the SEC, reflecting an unparalleled level of transparency in the crypto industry.
STX tokens are also currently available for trading on Binance's global exchange and HashKey Pro's institutional exchange.
Image source: Shutterstock
