Blockstack PBC has entered into an agreement with Asia-based crypto exchange KuCoin to expand global access to the Stacks (STX) token, especially in Asia and other active KuCoin markets. KuCoin serves 1 in every 4 crypto holders worldwide with more than 5 million registered users and is backed by IDG Capital and Matrix Partners. KuCoin joins leading international exchange Binance and institutional exchange HashKey Pro in its plans to list the Blockstack network’s native Stacks (STX) token.
As we continue working to build a user owned internet, increasing access to the Blockstack ecosystem and apps on the network requires increased access to Stacks. Stacks 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.
KuCoin represents a diverse community of crypto enthusiasts that we expect to have easy access to Stacks and we look forward to welcoming them to the world of Blockstack. We anticipate that Stacks can start trading live on KuCoin in the coming weeks but cannot comment on the exact timeline or give any guarantees. We will provide an update on our blog about the date of the listing before it officially goes live.
We are excited about the continued progress towards decentralization for the Blockstack ecosystem, as the governance, operation and token ownership of the network continue to expand. The last hardfork of the Stacks blockchain was in Jan 2020 and we expect the Stacks 2.0 launch to be led by the network, independently of Blockstack PBC.
Reminder: All official communications from Blockstack PBC related to Stacks will be posted on blockstack.org and/or stackstoken.com or come from a @blockstack.org/com or @stackstoken.com email address. Please be mindful of phishing attempts and other scams, you can always reach out to the team on Telegram or via [email protected] if you are unsure.
Access to STX
Subject to applicable law, non-US persons may buy or sell STX on KuCoin when the listing goes live or on previously announced Binance and HashKey Pro exchanges. Please note that only unlocked STX by non-US persons can be bought and sold on exchanges.
Access to STX for US persons
For US STX holders, there is currently no authorized exchange or alternative trading system (ATS) for buying and selling Stacks, and we cannot comment on when an exchange or ATS might list Stacks at this time. Please keep an eye out for updates at stackstoken.com.
Stacks (STX) FAQs
KuCoin, known as “The People’s Exchange”, is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in Sep 2017, KuCoin has grown into a popular crypto exchanges and has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.
In November 2018, KuCoin announced $20 million (USD) round A funding from IDG Capital and Matrix Partners. More details on KuCoin are available here.
You can learn more about Proof of Transfer (PoX), Blockstack network and Stacks token economics by reading the respective papers.
Blockstack PBC is not registered, licensed, or supervised as a broker dealer or investment adviser by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), or any other financial regulatory authority or licensed to provide any financial advice or services.
This communication contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “intend,” “believe,” or other comparable terminology. These statements involve risks, uncertainties, assumptions, and other factors that may cause actual results or performance to be materially different. We cannot assure you that the forward-looking statements will prove to be accurate. These forward-looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.