Adapting to Market Volatility and Regulatory Shifts

The Seychelles-based cryptocurrency change KuCoin has launched a efficiency evaluation 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 side that stood out was KuCoin’s compliance. The crypto change stated it was the primary platform registered with India’s Monetary Intelligence Unit, attaining 5 extra regulatory licenses worldwide. TokenInsight additionally acknowledged the change for regulatory management and strengthened its threat administration and safety practices by creating bug bounty applications and implementing its anti-money laundering and know-your-customer measures.

Whereas KuCoin reinforced its regulatory compliance, the change’s international 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 huge 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 introduced a piece for meme cash. There have been over 300 new token listings throughout the platform, representing a 98% year-on-year (YoY) development. By the top of 2024, new listings on KuCoin had doubled, with a 170% surge within the final quarter of the yr.

KuCoin’s Investments and PoR Reviews

Moreover, KuCoin’s Buying and selling Bot platform noticed important development, pushed by greater consumer adoption. Customers created 7.5 million bots in 2024, marking a 36% YoY improve.

The KuCoin crypto debit card, KuCard, skilled a 48% improve in transactions, indicating robust consumer engagement. This development coincided with the launch of the service provider answer 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 change additionally launched a analysis division and schooling platform, which attracted over three million learners.

KuCoin printed month-to-month Proof of Reserves (PoR) reviews, which confirmed that consumer deposits had been absolutely backed with a collateralization ratio surpassing 1:1 by the top of the yr. The buying and selling platform additionally sponsored a number of occasions and earned greater than 100 prestigious awards.

This yr, 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 change acknowledged.