KuCoin Exchange Oversteps 20 Million User Milestone, Announces Commemorative Team Battle Event
The global cryptocurrency exchange KuCoin has announced that it has achieved the 20 million users landmark. The new milestone comes after the platform reported a record-high number of registered users in the first half of 2022.
Specifically, KuCoin attracted over 9.75 million new registered users in the first half of 2022, as highlighted in the KuCoin H1 2022 Report, bringing total user base numbers to over 20 million. The figures show a doubling of registered users in 7 months, as the exchange previously reported achieving the 10 million user milestone in December of 2021. The 219% user base increase in the first half of 2022 is largely attributed to the expansion of the exchange’s operations in Asia, resulting in the attraction of 5.6 million new users, a year-on-year increase of 659%. Latin America, Africa & the Middle East, and Europe showed 216%, 152%, and 142%, new user registrations respectively on a year-on-year basis.
“As KuCoin's 5th anniversary is approaching, the number of registered users surpassed 20 million, which is another milestone for us. KuCoin is growing at a high speed with the support and trust of every user regardless of market conditions. To express our gratitude to users, we will provide more innovative products and services around NFT, GameFi, and Web 3.0 to help users access the crypto world more easily,” as stated by Johnny Lyu, CEO of KuCoin.
The main reasons for such user numbers growth are KuCoin’s globalization strategy and focus on new market penetration via better community and language support for new products and feature launches.
The addition of BRL and EUR fiat trading pairs, as well as BTC/BRL, ETH/BRL, USDT/BRL, BTC/EUR, ETH/EUR, and USDT/EUR, has contributed to the penetration of the exchange into Latin American and European markets. Coupled with new product launches that bolstered the overall ecosystem of the exchange, these factors have allowed the attraction of new users.
To mark the achievement of the new user number milestone, the exchange will be launching the KuCoin Futures Global Team Battle later in July. The First KuCoin Futures Global Team Battle with $1 million in prizes will give users the chance of winning up to $20,000 for joining. The event will also feature exclusive leader bonuses, newbie airdrops, and other rewards.
The KuCoin exchange is focusing on promoting its globalization strategy to continue making entry into key markets, such as Europe, the Middle East, South Asia, Africa, Latin America, and others. The exchange will also be making efforts to provide users with localized products while strengthening relations with local influencers, media channels, and other industry representatives to promote crypto education and the popularization of digital assets usage.
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 20 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. Forbes also named KuCoin one of the Best Crypto Exchanges in 2021. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.
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