KuCoin 2024 H1 report – Reaching 34M users and leading with compliance
KuCoin 2024 H1 report – Reaching 34M users and leading with compliance
KuCoin, a leader in the cryptocurrency exchange industry, has marked a significant milestone in the first half of 2024, surpassing 34 million registered users. This achievement reflects the exchange’s resilience and adaptability amid a dynamic market landscape, marked by both challenges and opportunities.
According to the released report, despite market fluctuations and increasing regulatory scrutiny, KuCoin has maintained its trajectory of growth, driven by a strong commitment to innovation, user-centric services, and regulatory compliance.
Throughout the first half of the year, KuCoin embraced significant developments in the crypto world, including the fourth Bitcoin halving and the approval of BTC and ETH ETFs, which have further cemented the mainstream acceptance of cryptocurrency. The rise of Ethereum Layer 2 solutions like Base and Linea also played a crucial role in enhancing scalability and reducing transaction costs.
Key figures from the report underscore KuCoin's impressive growth. The exchange saw a 31% and 25% user increase in LATAM and MENA regions, respectively, compared to 2023 H2. Additionally, KuCoin handled over 1.2 million client support requests and maintained a robust trading environment, with spot trading volumes up by 127.71%. Notably, KuCoin has doubled its highest 24-hour trading volume compared to the previous half-year period, while also creating over 2.2 million trading bots, reflecting users' confidence in the platform.
KuCoin’s commitment to regulatory compliance is evident through its acquisition of five regulatory licenses across the globe, including in Australia, Czechia, India, El Salvador, and Poland. The exchange has also responded to over 3,600 law enforcement requests, showcasing its dedication to maintaining transparency and security in the crypto space. The introduction of the Bugcrowd Bug Bounty program further emphasizes KuCoin's proactive approach to security, aiming to identify and mitigate potential vulnerabilities.
The exchange’s forward-looking approach, combined with its commitment to innovation, positions it as a continued leader in the evolving cryptocurrency landscape.
See also: Coinbase launches $15,000 grant program to integrate AI with decentralized apps
