By Nermeen Nabil Khear The Seychelles-based cryptocurrency exchange KuCoin has released a performance review report detailing its activities and growth in 2024.
According to a copy shared with CryptoPotato, the platform recorded growth across several areas, including the global user base, spot trades, futures market, compliance, and listings.
KuCoin Releases 2024 Performance Report
One aspect that stood out was KuCoin’s compliance. The crypto exchange said it was the first platform registered with India’s Financial Intelligence Unit, achieving five additional regulatory licenses worldwide. TokenInsight also recognized the exchange for regulatory leadership and strengthened its risk management and security practices by creating bug bounty programs and enforcing its anti-money laundering and know-your-customer measures.
While KuCoin reinforced its regulatory compliance, the exchange’s global user base expanded beyond 38 million, with the fastest growth recorded in the Latin American and the Middle East and North African (MENA) regions.
At the same time, KuCoin’s spot trading platform recorded massive growth, with MENA and Europe’s trading volumes rising 300% and 144%, respectively. The company expanded its futures trading offerings and introduced a section for meme coins. There were over 300 new token listings across the platform, representing a 98% year-on-year (YoY) growth. By the end of 2024, new listings on KuCoin had doubled, with a 170% surge in the last quarter of the year.
KuCoin’s Investments and PoR Reports
Furthermore, KuCoin’s Trading Bot platform saw significant growth, driven by higher user adoption. Users created 7.5 million bots in 2024, marking a 36% YoY increase.
The KuCoin crypto debit card, KuCard, experienced a 48% increase in transactions, indicating strong user engagement. This growth coincided with the launch of the merchant solution KuCoin Pay, which enables individuals and businesses to receive crypto payments.
Additionally, 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.
KuCoin published monthly Proof of Reserves (PoR) reports, which showed 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 more than 100 prestigious awards.
This year, KuCoin aims to focus on security, innovation, user experience, next-generation technologies, and AI-driven solutions.
“Trust remains at the core of our platform, and we are committed to enhancing security measures, deepening regulatory engagement worldwide, and driving breakthrough innovations that shape the future of crypto,” the exchange stated.
The post KuCoin’s 2024 Journey: Adapting to Market Volatility and Regulatory Shifts appeared first on CryptoPotato.
KuCoin experienced growth across several areas, including global user base, spot trades, futures market, compliance, and token listings. AA News, Crypto News, KuCoin, Regulations
This articles is written by : Nermeen Nabil Khear Abdelmalak
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