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KuCoin Expands User Base to 31M, Doubles Trading Volume
2023 proved
to be positive for companies in the cryptocurrency industry, as confirmed by
another report summarizing the past year published by a large digital asset
exchange. KuCoin joins its competitors and boasts an increase in its customer
base to over 30 million, doubling its spot market volumes.
According
to the report, KuCoin has seen an increase of 16% in its user base, reaching nearly
31 million users worldwide. The platform also experienced a surge of 106% in spot
trading volume, indicating strong user engagement and confidence.
“The
most significant growth in the past year came from the Latin America region,
which saw a 34% increase,” the company reported. “Additionally,
substantial user base growth has been observed in other key regions, including
the Middle East and Africa (27%) and Europe (25%), compared to 2022.”
In
addition, the report revealed KuCoin’s achievements in asset expansion. The
crypto exchange added 149 new assets, bringing the total to 830 digital tokens,
and supported 1,246 trading pairs as of December 2023. KuCoin additionally launched
KuCard, a crypto debit card that allows users to spend their crypto assets
anywhere. KuCoin reported that over 10,000 KuCard holders have been registered
within a month of its launch.
“Our
vision has always been to be the ‘People’s Exchange’,” said Johnny Lyu, the
CEO of KuCoin. “This year’s achievements reflect not just our growth, but
our dedication to providing a safe and secure trading platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real
Read this Term as we continue
expanding.”
Peering into 2⃣0⃣2⃣4⃣’s crypto horizon, let’s take a witty walk down memory lane. 😉
Join us in reliving your 2023 crypto journey. Together, we’ll reminisce about the 📈, learn from the lows 📉, and gear up for an even more adventurous 2024! 🚀💫
— KuCoin (@kucoincom) January 9, 2024
Last week, another
cryptocurrency exchange, Bitget, summarized its results for 2023, noting
a near twofold increase in spot volumes and adding 12 million new users. The
industry was helped, among other things, by the Bitcoin ETF buzz, which led to digital
asset investment products seeing $2.25 billion of inflows in 2023, one of the
best results since 2017. This further translated into increased activity of retail
investors and a surge in cryptocurrency volumes.
2024 starts positively for crypto platforms, especially since expectations
for introducing a spot Bitcoin ETF are currently heated to the maximum, and the
BTC price is testing its highest levels since April 2022.
Enhanced Security
On top of that, the report showcases KuCoin’s efforts to enhance security and trust, such as
maintaining solid reserve ratios, upgrading KYC protocols, implementing
advanced security measures, and offering responsive customer service. KuCoin
stated that the safety of users’ assets is paramount and adheres to the highest
risk management
Risk Management
One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class,
One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class,
Read this Term standards and world-class security practices.
“As we
continue to expand and innovate, our focus remains steadfast on ensuring that
every decision we make aligns with the needs and security of our users,”
Lyu added.
Furthermore,
the report highlights KuCoin’s involvement in various initiatives and events to
promote the adoption and development of blockchain and crypto. KuCoin published
eight market reports of the “Into the Cryptoverse” series, featuring
different regions and countries. KuCoin additionally participated in over 30 online and
offline events across multiple continents.
2023 was
not without its problems. In December, the exchange reached a settlement of $22
million with the state of New York and committed to ceasing its services for
users in the region. KuCoin faced charges for offering, selling, and purchasing
cryptocurrencies as securities and commodities, violating New York’s laws.
Earlier in October, it was targeted by the FCA along with several other
exchanges, ending up on a list of restrictions.
2023 proved
to be positive for companies in the cryptocurrency industry, as confirmed by
another report summarizing the past year published by a large digital asset
exchange. KuCoin joins its competitors and boasts an increase in its customer
base to over 30 million, doubling its spot market volumes.
According
to the report, KuCoin has seen an increase of 16% in its user base, reaching nearly
31 million users worldwide. The platform also experienced a surge of 106% in spot
trading volume, indicating strong user engagement and confidence.
“The
most significant growth in the past year came from the Latin America region,
which saw a 34% increase,” the company reported. “Additionally,
substantial user base growth has been observed in other key regions, including
the Middle East and Africa (27%) and Europe (25%), compared to 2022.”
In
addition, the report revealed KuCoin’s achievements in asset expansion. The
crypto exchange added 149 new assets, bringing the total to 830 digital tokens,
and supported 1,246 trading pairs as of December 2023. KuCoin additionally launched
KuCard, a crypto debit card that allows users to spend their crypto assets
anywhere. KuCoin reported that over 10,000 KuCard holders have been registered
within a month of its launch.
“Our
vision has always been to be the ‘People’s Exchange’,” said Johnny Lyu, the
CEO of KuCoin. “This year’s achievements reflect not just our growth, but
our dedication to providing a safe and secure trading platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real
Read this Term as we continue
expanding.”
Peering into 2⃣0⃣2⃣4⃣’s crypto horizon, let’s take a witty walk down memory lane. 😉
Join us in reliving your 2023 crypto journey. Together, we’ll reminisce about the 📈, learn from the lows 📉, and gear up for an even more adventurous 2024! 🚀💫
— KuCoin (@kucoincom) January 9, 2024
Last week, another
cryptocurrency exchange, Bitget, summarized its results for 2023, noting
a near twofold increase in spot volumes and adding 12 million new users. The
industry was helped, among other things, by the Bitcoin ETF buzz, which led to digital
asset investment products seeing $2.25 billion of inflows in 2023, one of the
best results since 2017. This further translated into increased activity of retail
investors and a surge in cryptocurrency volumes.
2024 starts positively for crypto platforms, especially since expectations
for introducing a spot Bitcoin ETF are currently heated to the maximum, and the
BTC price is testing its highest levels since April 2022.
Enhanced Security
On top of that, the report showcases KuCoin’s efforts to enhance security and trust, such as
maintaining solid reserve ratios, upgrading KYC protocols, implementing
advanced security measures, and offering responsive customer service. KuCoin
stated that the safety of users’ assets is paramount and adheres to the highest
risk management
Risk Management
One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class,
One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class,
Read this Term standards and world-class security practices.
“As we
continue to expand and innovate, our focus remains steadfast on ensuring that
every decision we make aligns with the needs and security of our users,”
Lyu added.
Furthermore,
the report highlights KuCoin’s involvement in various initiatives and events to
promote the adoption and development of blockchain and crypto. KuCoin published
eight market reports of the “Into the Cryptoverse” series, featuring
different regions and countries. KuCoin additionally participated in over 30 online and
offline events across multiple continents.
2023 was
not without its problems. In December, the exchange reached a settlement of $22
million with the state of New York and committed to ceasing its services for
users in the region. KuCoin faced charges for offering, selling, and purchasing
cryptocurrencies as securities and commodities, violating New York’s laws.
Earlier in October, it was targeted by the FCA along with several other
exchanges, ending up on a list of restrictions.
#KuCoin #Expands #User #Base #31M #Doubles #Trading #Volume
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