KuCoin sees user base grow to 38m, fastest gains in LATAM and MENA

Crypto alternate KuCoin’s growth in 2024 noticed report adoption in LATAM and MENA, driving its consumer base to almost 40 million.

KuCoin‘s consumer base hit 38 million in 2024, with the most important development in Latin America and the Center East/North Africa, the alternate mentioned in a press launch shared crypto.information. Extra customers in these areas jumped into spot and futures buying and selling, driving the surge, KuCoin added.

KuCoin says buying and selling in MENA tripled from 2023, whereas Europe noticed a 144% leap. The platform additionally added 300 new tokens in 2024, with over 30% listed within the final quarter. KuCoin’s futures buying and selling grew quite a bit too, including 125 new property and bringing in over 3 million new merchants, the alternate says.

“All consumer deposits are totally backed with a collateralization ratio exceeding 1:1, reinforcing KuCoin’s dedication to monetary safety and belief. Moreover, we help unbiased verifications, permitting customers to personally confirm their asset holdings for added peace of thoughts.”

KuCoin

KuCoin teases AI upgrades, skips US market speak

Looking forward to 2025, KuCoin plans to roll out “AI-driven options” and user-focused upgrades, although it didn’t present specifics.

The report additionally omitted point out of the alternate’s $297 million positive after it pleaded responsible in a U.S. court docket to failing to adjust to anti-money laundering rules. As beforehand reported by crypto.information, KuCoin admitted to working an unlicensed cash transmission enterprise and violating U.S. anti-money laundering and know-your-customer rules. As a part of the settlement, the corporate should exit the U.S. marketplace for at the least two years.

In accordance with CoinMarketCap information, KuCoin now ranks eighth in each day buying and selling quantity, surpassing $1 billion, putting it simply behind U.S.-based Kraken.