The Seychelles-based cryptocurrency alternate KuCoin has launched a efficiency evaluate report detailing its actions and progress in 2024.
In keeping with a replica shared with CryptoPotato, the platform recorded progress 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 alternate stated it was the primary platform registered with India’s Monetary Intelligence Unit, reaching 5 further regulatory licenses worldwide. TokenInsight additionally acknowledged the alternate for regulatory management and strengthened its danger administration and safety practices by creating bug bounty applications and implementing its anti-money laundering and know-your-customer measures.
Whereas KuCoin strengthened its regulatory compliance, the alternate’s world consumer base expanded past 38 million, with the quickest progress 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 progress, 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) progress. 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 important progress, pushed by increased 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 sturdy consumer engagement. This progress coincided with the launch of the service provider answer KuCoin Pay, which permits 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 alternate additionally launched a analysis division and training platform, which attracted over three million learners.
KuCoin revealed month-to-month Proof of Reserves (PoR) stories, which confirmed that consumer deposits have been absolutely 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 give attention to 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 alternate acknowledged.
The publish KuCoin’s 2024 Journey: Adapting to Market Volatility and Regulatory Shifts appeared first on CryptoPotato.