The Seychelles-based cryptocurrency trade KuCoin has launched a efficiency overview report detailing its actions and development in 2024.
Based on a replica shared with CryptoPotato, the platform recorded development throughout a number of areas, together with the worldwide consumer base, spot trades, futures market, compliance, and listings.
KuCoin Releases 2024 Efficiency Report
One facet that stood out was KuCoin’s compliance. The crypto trade stated it was the primary platform registered with India’s Monetary Intelligence Unit, reaching 5 further regulatory licenses worldwide. TokenInsight additionally acknowledged the trade for regulatory management and strengthened its threat administration and safety practices by creating bug bounty applications and imposing its anti-money laundering and know-your-customer measures.
Whereas KuCoin strengthened its regulatory compliance, the trade’s world consumer base expanded past 38 million, with the quickest development recorded within the Latin American and the Center East and North African (MENA) areas.
On the similar time, KuCoin’s spot buying and selling platform recorded large development, with MENA and Europe’s buying and selling volumes rising 300% and 144%, respectively. The corporate expanded its futures buying and selling choices and launched a bit for meme cash. There have been over 300 new token listings throughout the platform, representing a 98% year-on-year (YoY) development. By the tip of 2024, new listings on KuCoin had doubled, with a 170% surge within the final quarter of the 12 months.
KuCoin’s Investments and PoR Studies
Moreover, KuCoin’s Buying and selling Bot platform noticed vital development, pushed by increased consumer adoption. Customers created 7.5 million bots in 2024, marking a 36% YoY enhance.
The KuCoin crypto debit card, KuCard, skilled a 48% enhance in transactions, indicating robust consumer engagement. This development coincided with the launch of the service provider resolution KuCoin Pay, which allows people and companies to obtain crypto funds.
Moreover, KuCoin doubled down on supporting early-stage entrepreneurs by investing in entities throughout the blockchain and synthetic intelligence sectors. The trade additionally launched a analysis division and schooling platform, which attracted over three million learners.
KuCoin revealed month-to-month Proof of Reserves (PoR) studies, which confirmed that consumer deposits have been totally backed with a collateralization ratio surpassing 1:1 by the tip of the 12 months. The buying and selling platform additionally sponsored a number of occasions and earned greater than 100 prestigious awards.
This 12 months, KuCoin goals to deal with safety, innovation, consumer expertise, next-generation applied sciences, and AI-driven options.
“Belief stays on the core of our platform, and we’re dedicated to enhancing safety measures, deepening regulatory engagement worldwide, and driving breakthrough improvements that form the way forward for crypto,” the trade said.
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