Crypto
KuCoin Expands User Base to 31M, Doubles Trading Volume
2023 proved
to be positive for companies in the cryptocurrency industry, as confirmed by
another report summarizing the past year published by a large digital asset
exchange. KuCoin joins its competitors and boasts an increase in its customer
base to over 30 million and a doubling of its spot market volumes.
According
to the report, KuCoin has seen a 16% increase in its user base, reaching nearly
31 million users worldwide. The platform also experienced a 106% surge in spot
trading volume, indicating strong user engagement and confidence.
“The
most significant growth in the past year came from the Latin America region,
which saw a 34% increase,” the company reported. “Additionally,
substantial user base growth has been observed in other key regions, including
the Middle East and Africa (27%) and Europe (25%), compared to 2022.”
In
addition, the report reveals KuCoin’s achievements in asset expansion. The
crypto exchange added 149 new assets, bringing the total to 830 digital tokens,
and supported 1,246 trading pairs as of December 2023. KuCoin also launched
KuCard, a crypto debit card that allows users to spend their crypto assets
anywhere. KuCoin reports that over 10,000 KuCard holders have been registered
within a month of its launch.
“Our
vision has always been to be the ‘People’s Exchange’,” said Johnny Lyu, the
CEO of KuCoin. “This year’s achievements reflect not just our growth, but
our dedication to providing a safe and secure trading platform as we continue
expanding.”
Peering into 2⃣0⃣2⃣4⃣’s crypto horizon, let’s take a witty walk down memory lane. 😉
Join us in reliving your 2023 crypto journey. Together, we’ll reminisce about the 📈, learn from the lows 📉, and gear up for an even more adventurous 2024! 🚀💫
— KuCoin (@kucoincom) January 9, 2024
Last week, another
cryptocurrency exchange, Bitget, also summarized its results for 2023, noting
a nearly twofold increase in spot volumes and adding 12 million new users. The
industry was helped, among other things, by the Bitcoin ETF buzz, which led to digital
asset investment products seeing $2.25 billion of inflows in 2023, one of the
best results since 2017. This also translated into increased activity of retail
investors and a surge in cryptocurrency volumes.
2024 also
starts positively for crypto platforms, especially since expectations
for introducing a spot Bitcoin ETF are currently heated to the maximum, and the
BTC price is testing its highest levels since April 2022.
Enhanced Security
The report
also showcases KuCoin’s efforts to enhance security and trust, such as
maintaining solid reserve ratios, upgrading KYC protocols, implementing
advanced security measures, and offering responsive customer service. KuCoin
states that the safety of users’ assets is paramount and adheres to the highest
risk management standards and world-class security practices.
“As we
continue to expand and innovate, our focus remains steadfast on ensuring that
every decision we make aligns with the needs and security of our users,”
Lyu added.
Furthermore,
the report highlights KuCoin’s involvement in various initiatives and events to
promote the adoption and development of blockchain and crypto. KuCoin published
eight market reports of the “Into the Cryptoverse” series, featuring
different regions and countries. KuCoin also participated in over 30 online and
offline events across multiple continents.
2023 was
not without its problems. In December, the exchange reached a settlement of $22
million with the state of New York and committed to ceasing its services for
users in the region. KuCoin faced charges for offering, selling, and purchasing
cryptocurrencies as securities and commodities, violating New York’s laws.
Earlier in October, it was targeted by the FCA along with several other
exchanges, ending up on a list of restrictions.
2023 proved
to be positive for companies in the cryptocurrency industry, as confirmed by
another report summarizing the past year published by a large digital asset
exchange. KuCoin joins its competitors and boasts an increase in its customer
base to over 30 million and a doubling of its spot market volumes.
According
to the report, KuCoin has seen a 16% increase in its user base, reaching nearly
31 million users worldwide. The platform also experienced a 106% surge in spot
trading volume, indicating strong user engagement and confidence.
“The
most significant growth in the past year came from the Latin America region,
which saw a 34% increase,” the company reported. “Additionally,
substantial user base growth has been observed in other key regions, including
the Middle East and Africa (27%) and Europe (25%), compared to 2022.”
In
addition, the report reveals KuCoin’s achievements in asset expansion. The
crypto exchange added 149 new assets, bringing the total to 830 digital tokens,
and supported 1,246 trading pairs as of December 2023. KuCoin also launched
KuCard, a crypto debit card that allows users to spend their crypto assets
anywhere. KuCoin reports that over 10,000 KuCard holders have been registered
within a month of its launch.
“Our
vision has always been to be the ‘People’s Exchange’,” said Johnny Lyu, the
CEO of KuCoin. “This year’s achievements reflect not just our growth, but
our dedication to providing a safe and secure trading platform as we continue
expanding.”
Peering into 2⃣0⃣2⃣4⃣’s crypto horizon, let’s take a witty walk down memory lane. 😉
Join us in reliving your 2023 crypto journey. Together, we’ll reminisce about the 📈, learn from the lows 📉, and gear up for an even more adventurous 2024! 🚀💫
— KuCoin (@kucoincom) January 9, 2024
Last week, another
cryptocurrency exchange, Bitget, also summarized its results for 2023, noting
a nearly twofold increase in spot volumes and adding 12 million new users. The
industry was helped, among other things, by the Bitcoin ETF buzz, which led to digital
asset investment products seeing $2.25 billion of inflows in 2023, one of the
best results since 2017. This also translated into increased activity of retail
investors and a surge in cryptocurrency volumes.
2024 also
starts positively for crypto platforms, especially since expectations
for introducing a spot Bitcoin ETF are currently heated to the maximum, and the
BTC price is testing its highest levels since April 2022.
Enhanced Security
The report
also showcases KuCoin’s efforts to enhance security and trust, such as
maintaining solid reserve ratios, upgrading KYC protocols, implementing
advanced security measures, and offering responsive customer service. KuCoin
states that the safety of users’ assets is paramount and adheres to the highest
risk management standards and world-class security practices.
“As we
continue to expand and innovate, our focus remains steadfast on ensuring that
every decision we make aligns with the needs and security of our users,”
Lyu added.
Furthermore,
the report highlights KuCoin’s involvement in various initiatives and events to
promote the adoption and development of blockchain and crypto. KuCoin published
eight market reports of the “Into the Cryptoverse” series, featuring
different regions and countries. KuCoin also participated in over 30 online and
offline events across multiple continents.
2023 was
not without its problems. In December, the exchange reached a settlement of $22
million with the state of New York and committed to ceasing its services for
users in the region. KuCoin faced charges for offering, selling, and purchasing
cryptocurrencies as securities and commodities, violating New York’s laws.
Earlier in October, it was targeted by the FCA along with several other
exchanges, ending up on a list of restrictions.
Crypto
Senate committee discusses cryptocurrency options for state pension funds – Inside INdiana Business
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