Crypto exchanges all around the globe have started to create and list their own tokens that allow hodlers to access special rights on the platforms. The most popular and powerful one at the moment is BNB – the native token from Binance – and many other exchanges tokens are looking to follow in its footsteps. That being said, no exchanges are listing each other’s tokens, but KuCoin has decided to break the mold and list BNB on its exchange – becoming the first to do so in the process.
Sharing Objectives, So Let’s Share Tokens
On the surface of the matter, it looks as if KuCoin listed BNB out of sheer will to do good for the community and help crypto traders from its platform get access to the popular token. KuCoin CEO – Michael Gwan – Tweeted: “Blockchain mass adoption is the end game and we are all going after the same objective” shortly after the news broke, hinting that KuCoin isn’t after anything in return. However, a few hours later – and after KuCoin’s own token saw a nice uptick – there were calls from the KuCoin community for Binance to reciprocate the gesture. Given the way the last few coins have gone after listing on Binance, soon you start to wonder if KuCoin was hoping for a bit of a mega pump from Binance.
Exchanges Teaming Up Ahead of Regulation
Exchanges around the globe are starting to unite against the same cause – a lack of US regulation. Bittrex kicked off the party by blocking 32 tokens in America, with Binance quickly blocking American users. While Binance has opened up a special US version of its exchange, the other platforms are still ghosting the jurisdiction. It’s now more important than ever before for crypto exchanges to stick together and put their differences aside.
KuCoin’s own token might not be as powerful or as useful as the BNB token, but there are no doubt plans in the works to bring it up to standard. If Binance does decide to reciprocate the move, then we could see exchange tokens from every platform being available on KuCoin in no time. However, if this happens, KuCoin risks becoming labeled as the exchange for crypto exchange tokens – not a great way to head into the next bull market. Either way, KuCoin has shown off its generous and caring side to the world, it’s time we cut it some slack for taking a risk.