KuCoin to Conduct Third-Party PoR Verification

VICTORIA, SEYCHELLES – Cryptocurrency exchange KuCoin announced today that it has partnered with international tax audit advisory firm Mazars. Although KuCoin is a globally-trusted exchange, the company is nonetheless looking to bolster its commitment to ‘trust and transparency’.

As the People's Exchange, we place the safety and security of users' funds as our top priority.

And so, we are proud to announce that #KuCoin has partnered with Mazars, a leading international audit, tax and advisory firm to increase transparency!

— KUCOIN (@kucoincom) December 5, 2022

“Mazars will offer KuCoin’s customers and prospective customers additional transparency and reporting on whether their in-scope assets are collateralized,” the exchange wrote on its blog. 

Digital assets are already seen as risky investments and having bad actors involved in nefarious operations, such as the FTX downfall, only deteriorates the industry’s already scarred reputation. 

In the aftermath of FTX, prudence dictates that exchanges who make their proof-of-reserves transparent are taking the initial steps to restore market trust.

KuCoin was launched in 2017 and has quickly become one of the top five cryptocurrency exchanges in the world. Headquartered in the Seychelles, KuCoin is community-focused, offering over 700 different digital assets and several different types of trading services.