KuCoin Will Host an IEO for Indian Exchange Bitbns on July 30

Professional cryptocurrency trading platform KuCoin will host a token sale for Indian crypto exchange Bitbns (BNS) on July 30. The upcoming initial exchange offering will be KuCoin’s second Spotlight project this year, an official announcement revealed today.

One of the most important benefits of working with KuCoin for Bitbns is the market reach. KuCoin tries to help blockchain projects raise their needed funds and attract new investors through its Spotlight program.

BNS, the native token of Bitbns exchange has a great potential to grow with the help of KuCoin because of the considerable user-base it has conducted in India.

Bitbns issued BNS as a multi-protocol token and aims to promote it as a token for daily use. The exchange believes that BNS can become the primary cryptocurrency for Indians. BNS has experienced four pre-public sales and aims for more significant user-base by collaborating with KuCoin.

The native token from Butbns aims for multiple real-world use-cases to grow popularity. Users will reportedly be able to shop with it on Amazon and other e-commerce services, pay their electricity bills, and benefit trading fee discounts on Bitdroplet.

Bitbns began operation in December 2017 and attracted over a half-million users in the first year of operation. Gaurav Dahake, CEO of Bitbns exchange, spoke about the plans for BNS.

“To give Indian people a smooth entry into the crypto world, Bitbns gave importance to ease of use, security, and customer support right from the beginning. Bitbns has expanded into the UAE and Thailand with plans to expand into 30 more countries by the end of 2020.”

Dahake added:

Conducting token sale of BNS on the KuCoin Spotlight platform will enable more users around the world to know BNS and participate in the future development of Bitbns. We believe this is an important step to accelerate the globalization of Bitbns.

Supporting blockchain projects via Spotlight have mutual benefits for KuCoin, too. It can attract more users who are looking to invest in new projects. It provides its marketing channels to those projects that will surely help them attract market attention and potential investors.

The IDG-backed exchange has increased presence and investment in India after the crypto ban was lifted in March. It had invested $50M to support crypto actors in that market, and working with Bitbns is another step toward that support goal.