Mazers & KuCoin Collaborate for 3rd-Party Validation of Proof of Reserves

KuCoin, considered among the biggest crypto exchanges throughout the world, declared a partnership with Mazers. By joining a prominent international advisory, tax, and audit platform, KuCoin targets offering a 3rd-party report to present factual findings. Mazers will provide more transparency to the current as well as the prospective consumers of KuCoin.

KuCoin Joins Mazers to Organize 3rd-Party Verification Procedures for Proof of Reserves

It will also offer details for showcasing the proof of reserves of the platform along with the consumer liability. This will additionally account for the clients’ robot, margin, trade, contract, and main accounts for USDC, USDT, ETH, and BTC. KuCoin’s CEO, Johnny Lyu, remarked on this by saying that the exchange is devoted to people. As per him, they pay a lot of attention to the security and safety of consumer funds. This step, according to him, would take their endeavors to a further extent in offering transparency over the client funds.

Lyu mentioned that this would signify their vision of enhancing transparency and fortifying the trust in the market. In the executive’s words, the company has been endeavoring to offer convenient and secure products and platforms to its consumers since its establishment. For this purpose, he added, it has made considerable progress in the case of risk control, transparency, as well as customer protection.

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The Platform Endeavors to Gain Customer Trust via Transparency

The CEO expressed enthusiasm for the collaboration with Mazers as it would support the firm in a difficult time to ensure the advancement of the market. Wiehann Olivier, the chief of digital assets and a partner of the firm, also commented on the matter. The executive asserted that following the recent incidents, there is an extreme requirement for more transparency. Olivier showed confidence in the proof-of-reserves service of Mazers, saying that it would help KuCoin and the rest of the international crypto exchanges in improving trust via transparency.

KuCoin was established in 2017’s September as a worldwide crypto exchange headquartered in Seychelles. It has been operating as a customer-oriented company preferring inclusiveness as well as taking the technology to the reach of the common masses. It provides more than seven hundred digital assets in addition to lending, staking, futures trading, P2Pfiat trading, margin trading, and spot trading to 27M clients across 207 countries.