2024 Annual Review: A Year of Resilience, Growth, and Transformation

Read the full report here.

2024 was a pivotal year for KuCoin and the crypto industry, defined by both challenges and remarkable achievements. Through market shifts and regulatory developments, we adapted, evolved, and strengthened our commitment to security, compliance, and innovation. As we move forward, we do so with the lessons learned and a renewed focus on providing a secure, transparent, and user-centric platform. Our key milestones include:

• Expanding Global User Base: Surpassed 38 million users, with the fastest growth in LATAM and MENA.

• Spot Trading Growth: MENA’s trading volume tripled, while Europe saw a 144% increase.

• New listings doubled in 2024, with a record 170% growth in Q4, underscoring our accelerated listing pace.

• Futures Market Growth: Added 125 new assets, attracting 3 million+ new traders.

• Rewards Hub Engagement: Attracted 15 million new users, reinforcing engagement through diverse incentives and exclusive campaigns.

• KCS Ecosystem Growth: Surpassed 2 million holders, with a total market cap reaching $1.7 billion.

• Major Compliance Milestones: First global exchange registered with India’s FIU, securing five regulatory licenses worldwide, with more approvals underway.

The 2024 crypto market was driven by regulatory advancements, institutional adoption, and macroeconomic shifts.

• Bitcoin & Ethereum: Bitcoin achieved a new all-time high of $100,000, fueled by ETF approval, growing institutional adoption,and the fourth halving event. Ethereum completed the Cancun Audit and secured ETF approval.

• Meme Coin Boom: Meme coins have surged past a $100 billion market cap, driven by strong community engagement, cultural influence, and growing adoption. The rise of new-generation meme coins with enhanced utility and governance mechanisms has further fueled their expansion

• Regulatory Shifts: Europe advanced with the MiCA regulation, bringing more structure to crypto. In Asia, regulatory trends vary—China and South Korea have tightened enforcement, while Singapore and Hong Kong are implementing structured policies to support industry growth and innovation.

• Macroeconomic Impact: The Federal Reserve’s first rate cut in four years revitalized investor confidence and market liquidity.

Security & Regulatory Compliance: Strengthening Our Foundations

KuCoin prioritizes security and compliance by strengthening AML and KYC measures with advanced verification, real-time monitoring, and proactive risk management to meet global standards.

• Became the first global exchange registered with India’s FIU

• Achieved five regulatory licenses worldwide, 

• Earning recognition from TokenInsight for regulatory leadership.

• Strengthened risk management and security practices, including:

  • Bug bounty programs in partnership with Bugcrowd.

  • Industry-standard encryption to protect user data and assets.

  • Reinforcing our anti-money laundering (AML) effortsEnhanced KYC measures to improve identity verification and fraud prevention.

  • Real-time transaction monitoring to detect and mitigate suspicious activities.

  • Expanded compliance team to reinforce oversight and regulatory adherence.

These initiatives underscore KuCoin’s commitment to compliance, security, and regulatory excellence in the evolving digital asset landscape.

 

In 2024, KuCoin expanded its spot trading platform, enhancing its offerings in futures trading and introducing a dedicated section for memecoins to cater to the growing interest in the market

• 300+ new token listings, reflecting a 98% YoY growth.

• 119 new tokens in Q4 alone, a 170% increase from Q3.

• First centralized exchange to list HyperLiquid’s HYPE token.

• Early adoption of trending Meme assets: WIF, SUNDOG, MOONDENG, BRETT, MEW.

• Official partnerships for launches of key assets: ENA, ONDO, MAVIA.

The introduction of GemPool and GemVote fostered deeper community engagement, driving $1.73 billion in staking value.

With 40 coins listed in Pre-Market Trading and a trading volume surpassing $42 million in 2024, KuCoin has built a thriving community of over 100,000 active traders eager to engage with newly listed tokens ahead of the broader market. Since its launch, KuCoin’s Pre-Market Trading has stood out with a user-centric approach, offering a seamless and innovative trading experience. The platform has enhanced its interface and introduced an “Order Cancellation” feature, giving users greater flexibility in fund management and improved transparency in trading information.

In 2024, KuCoin’s Futures Trading experienced substantial expansion, driven by growing user adoption, market momentum, and continuous feature upgrades. With millions of new users and a surge in trading activity, KuCoin further solidified its position as a leading futures trading platform, offering advanced tools and a more seamless trading experience. •

• Robust Growth: Added 2 million new future users, bringing the total to 24 million by year-end. Trading activity surged 30%, driven by improving market conditions.

• Expanded Offerings: Introduced 125 new futures assets to meet evolving trading needs.

• Cross Margin Mode: Improved capital efficiency, reduced liquidation risks, and enabled higher leverage.

• Copy Trading: Empowered users to replicate top traders’ strategies, making futures trading more accessible.

• Enhanced User Experience: Platform upgrades delivered a smoother, more flexible, and rewarding trading environment, with over 3 million users participating in reward-driven campaigns.

These advancements reinforce KuCoin’s commitment to delivering a cutting-edge, user-friendly, and efficient futures trading experience.

In 2024, KuCoin’s Trading Bot platform saw impressive growth, fueled by increasing user adoption and continuous feature enhancements. Users created 7.5 million bots, marking a 36% year-over-year increase, while Q4 alone recorded a 49% quarter-over-quarter surge, adding 1.8 million new bots. The platform’s total trading volume exceeded 25 billion USDT, reinforcing KuCoin’s leadership in automated trading solutions.

To further enhance user experience and trading efficiency, KuCoin introduced a revamped Trading Bot Homepage for improved navigation and an optimized Grid Bot creation process for a smoother setup. The launch of the AI Futures Trend strategy expanded trading options, while support for 12 advanced trading bot strategies on the KuCoin Web Trading Page made automated trading more versatile across different market conditions.

These enhancements make automated trading more accessible, efficient, and profitable, further solidifying KuCoin’s position as a leading crypto trading platform.

In Q4 2024, KuCard experienced a significant surge in usage, with transactions increasing by 48% compared to Q3, reflecting strong user engagement. Notably, over 87% of users expressed a willingness to recommend KuCard to their friends, underscoring its growing popularity and expanding user base.

KuCard’s seamless integration with KCS has been particularly successful, offering a 1.7% cashback on transactions. An impressive 97% of these cashback redemptions were converted into KCS, further strengthening the token’s utility and reinforcing its role within the ecosystem.

KuCard continues to set industry benchmarks with standout features. As the first crypto card to support Apple Pay, it leads the market in innovation. It also offers competitive cashback rates on par with traditional bank cards, supports transactions in 54 different cryptocurrencies, and delivers an exceptionally fast transaction experience, averaging just 0.7 seconds. Additionally, its flexibility in issuing multiple physical and virtual cards caters to diverse user needs, while a robust referral rewards system drives growth through new sign-ups.

In 2024, KuCoin introduced KuCoin Pay, a groundbreaking merchant solution designed to drive business growth by integrating crypto payments into the retail sector. This platform enables businesses to accept crypto payments effortlessly, allowing customers to complete purchases simply by scanning a QR code via KuCoin. With its seamless integration, KuCoin Pay delivers a frictionless checkout experience, enhancing consumer confidence and satisfaction.

In 2024, KuCoin Reward Hub solidified its position as a leading rewards platform, attracting 15 million new participants who actively engaged in various earning opportunities. Existing users also contributed significantly, with total participation exceeding 5 million instances.

The Reward Hub distributed over 5 million USDT in rewards to more than 2.5 million users, reinforcing its status as one of the most popular programs on KuCoin.

Referral incentives remained a key driver of growth, with over 300,000 new users joining KuCoin through friend invitations and claiming their rewards. Notably, 65% of these users have become long-term, loyal members of the KuCoin community, demonstrating the Reward Hub’s effectiveness in fostering engagement and retention.

Over the past year, KuCoin Ventures has actively invested in the blockchain and artificial intelligence sectors, fostering technological advancements and industry expansion. Its portfolio includes investments in Uxlink, Opinion Labs, Xion, Lumoz, Exabits, Tomo, 1money, and more. Several of these projects have successfully completed their Token Generation Events (TGE) and launched on major exchanges, including Pudgy Penguins, Uxlink, Cetus, Merlin, Scallop, and Xterio.

Meanwhile, KuCoin Labs has strengthened its role in supporting early-stage entrepreneurs by partnering with leading industry incubators. Through strategic collaborations and financial backing, it has contributed to key initiatives such as Web3Labs, the Sui Singapore Hackathon, and the Solana Hackathon, among others.

By bridging investment, incubation, and innovation, KuCoin Ventures & Labs continues to be a catalyst for growth in the blockchain ecosystem.

At KuCoin, exceptional customer service is a key competitive advantage. In 2024, we achieved major milestones through AI-driven innovation and process optimization, enhancing support efficiency and user experience.

• Scalable and Efficient Support: We assisted 3 million users, handling 1.5 million inquiries via representatives and 2.5 million through AI. AI’s ability to resolve simple issues allowed our team to focus on complex cases, improving service quality and customer satisfaction.

• AI-Powered Solutions: Over 56% of users successfully completed security resets via self-service. We also expanded asset recovery support across 34 cryptocurrencies and 26 blockchain networks, helping users recover millions in assets.

• Process Enhancements: New features like live video verification and optimized trading history downloads contributed to a 13% increase in user satisfaction.

By leveraging technology and automation, we continue to set new benchmarks in customer service, ensuring fast, seamless, and reliable support for our users.

Launched in June 2024, KuCoin News delivers real-time cryptocurrency updates, providing comprehensive coverage of market trends, regulatory developments, and blockchain innovations. With its AI-powered News Flash feature, users receive breaking news and real-time trading signals 24/7, ensuring they stay informed in the fast-evolving crypto landscape.

KuCoin Research delivers in-depth crypto insights and advanced market analysis, publishing 37 detailed reports on emerging crypto projects in 2024. Launched in October, it provides institutional-grade evaluations of cryptocurrencies and blockchain initiatives, covering key metrics, team assessments, and adoption trends.

KuCoin Learn, a dedicated educational platform, attracted over 3 million users in 2024. It offers a comprehensive resource library, including KuCoin product tutorials and insights into Web3 advancements, wallet technologies, AI integration, and Memecoins.

The Learn & Earn program, launched in Q4 2024, seamlessly combines education with rewards, completing 14 successful campaigns by year-end. With 500,000+ participants, users can earn Token Tickets, redeemable for cryptocurrencies, by engaging with educational content on new and trending crypto projects—enhancing both knowledge and portfolio growth.

KuCoin is committed to protecting user assets through robust security measures and full transparency. We publish verified monthly Proof of Reserves (PoR) reports, ensuring users have real-time insights into our asset backing.

As of December 31, 2024, our latest snapshot confirms:

• BTC Reserve Ratio: 107%

• ETH Reserve Ratio: 123%

• USDT Reserve Ratio: 108%

• USDC Reserve Ratio: 108%

All user deposits are fully backed with a collateralization ratio exceeding 1:1, reinforcing KuCoin’s dedication to financial security and trust. Additionally, we support independent verifications, allowing users to personally verify their asset holdings for added peace of mind.

In 2024, KuCoin earned over 100 prestigious awards, reinforcing its exceptional industry performance. This achievement reflects a 21% year-over-year increase in recognitions and an impressive 172% growth in the second half of the year. KuCoin’s excellence was acknowledged across both traditional finance and the cryptocurrency sector, further solidifying its position as a leading global exchange.

Notable accolades include:

• “Best Crypto Exchanges 2024” – Forbes Advisor

• “Top Cryptocurrency Spot Exchanges” – CoinMarketCap

• “Best Crypto Exchange of 2024” – Coinbureau

• “Best Crypto Lending Platforms in 2024” – CCN

With a steadfast commitment to security,innovation, and user-centric services, KuCoin continues to set new industry benchmarks, with many more achievements on the horizon.

Over the past year, KuCoin has significantly expanded its global footprint by sponsoring major industry events and engaging with over 700,000 individuals, including enthusiasts, industry peers, and thought leaders at high-profile conferences. These events include:

• TOKEN2049 in Dubai (15,000 attendees) and Singapore (20,000 attendees)

• Blockchain Life with 13,000 participants

• TON Gateway and VTIS with 20,000 participants

• India Blockchain Tour and Istanbul Blockchain Week

Additionally, KuCoin launched the “KuCoin Global Tour” to foster deeper connections with users worldwide. We hosted key networking events, including:

• “7rust KuCoin, Own Your Future”  in Singapore

• VTIS KuCoin Substage in Vietnam, focusing on Next-Gen Consumer Apps and the Digital Economy

• Community gatherings in Taiwan and Japan etc. 

Engaging with our users face-to-face has been both rewarding and inspiring. We look forward to hosting and participating in more global events, strengthening our community, and building even closer connections in the future.

In 2024, KuCoin made significant strides in strengthening its corporate social responsibility (CSR) initiatives, aligning with the values of United Nations COP28. Committed to education, health, climate action, and disaster relief, KuCoin actively contributed to communities in need through impactful projects.

• “Light Up Africa” Children’s Solar Lamps Project: KuCoin distributed 10,000 solar lamps to schools and communities in Sierra Leone, Nigeria, and Ghana, benefiting 50,000 children by providing access to sustainable lighting.

• Menstrual Equity Project: KuCoin provided 1,000 reusable menstrual kits to disadvantaged young girls and women, ensuring they can continue their education and daily lives with dignity.

• Climate Change Bucket Initiative: KuCoin distributed 1,900 relief buckets filled with essential living supplies to help vulnerable communities mitigate the impact of climate change.

• Typhoon Yagi Relief Effort: Following the devastation caused by Typhoon Yagi in Vietnam, KuCoin airdropped 10,000 KCS to support affected families in rebuilding their homes.

Through these initiatives, KuCoin continues to uphold its social commitments, fostering sustainability, resilience, and empowerment in communities worldwide.

As we enter 2025, KuCoin is doubling down on security, innovation and user experience to deliver a more seamless and rewarding experience for all users. 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.

We will introduce next-generation technologies, AI-driven solutions, and user-centric enhancements to make trading, payments, and rewards more intuitive and efficient. Our focus on expanding KuCard, strengthening Web3 initiatives, and elevating trading tools will open new possibilities for users across the globe.

At the same time, we remain steadfast in our commitment to compliance, working closely with regulators worldwide to build a sustainable crypto ecosystem.

With security as our foundation, innovation as our engine, and user experience at the forefront, 2025 will be a transformative year—one where KuCoin continues to empower users, redefine industry standards, and shape the future of finance.

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