KuCoin Releases 2024 Performance Report: A Year of Growth and Innovation
Overview
KuCoin, a Seychelles-based cryptocurrency exchange, has released its 2024 performance report, showcasing its growth and achievements across various areas, including user base, spot trades, futures market, compliance, and listings.
Compliance and Risk Management
One of the notable achievements highlighted in the report is KuCoin’s compliance with regulatory requirements. The exchange was the first platform to be registered with India’s Financial Intelligence Unit, obtaining five additional regulatory licenses worldwide. TokenInsight recognized KuCoin for its regulatory leadership and strengthened its risk management and security practices through the creation of bug bounty programs and enforcement of anti-money laundering and know-your-customer measures.
User Base and Trading Volumes
KuCoin’s global user base expanded beyond 38 million, with the fastest growth recorded in the Latin American and Middle East and North African (MENA) regions. The spot trading platform experienced massive growth, with MENA and Europe’s trading volumes rising 300% and 144%, respectively. The exchange also expanded its futures trading offerings and introduced a new section for meme coins.
Token Listings and Trading Bots
The number of new token listings on KuCoin surged by 98% year-on-year (YoY), with over 300 new listings added across the platform. The KuCoin Trading Bot platform saw significant growth, driven by higher user adoption, with users creating 7.5 million bots in 2024, marking a 36% YoY increase.
KuCoin’s Investments and Research
KuCoin doubled down on supporting early-stage entrepreneurs by investing in entities across the blockchain and artificial intelligence sectors. The exchange also launched a research division and education platform, which attracted over three million learners.
Proof of Reserves and Awards
KuCoin published monthly Proof of Reserves (PoR) reports, demonstrating that user deposits were fully backed with a collateralization ratio surpassing 1:1 by the end of the year. The trading platform also sponsored several events and earned over 100 prestigious awards.
Looking Ahead
In 2025, KuCoin plans to focus on security, innovation, user experience, next-generation technologies, and AI-driven solutions. The exchange is committed to enhancing security measures, deepening regulatory engagement worldwide, and driving breakthrough innovations that shape the future of crypto.
Conclusion
KuCoin’s 2024 performance report highlights its commitment to regulatory compliance, user growth, and innovation. As the exchange continues to expand its offerings and services, it remains committed to providing a secure and reliable platform for its users.
FAQs
Q: What were the key areas of growth for KuCoin in 2024?
A: The exchange experienced growth in its user base, spot trades, futures market, compliance, and listings.
Q: How did KuCoin’s compliance efforts fare in 2024?
A: KuCoin was the first platform to be registered with India’s Financial Intelligence Unit, obtaining five additional regulatory licenses worldwide.
Q: What is KuCoin’s focus for 2025?
A: The exchange plans to focus on security, innovation, user experience, next-generation technologies, and AI-driven solutions.
Q: What is the significance of KuCoin’s Proof of Reserves (PoR) reports?
A: The reports demonstrate that user deposits are fully backed with a collateralization ratio surpassing 1:1, ensuring the security and integrity of user funds.
Q: How many new token listings were added to KuCoin in 2024?
A: The exchange added over 300 new listings across the platform, representing a 98% year-on-year (YoY) growth.
