KuCoin's Stellar 2023 and What's Next in 2024

2023/12/31 10:00:00

To all of the KuCoiners, thank you for another year of support and love! As we turn the page to 2024, it's time for us to look back, review and reflect on this stellar year. The crypto market in 2023 has been nothing short of a rollercoaster ride, and we have witnessed both exhilarating surges and nail-biting dips. This was a year where challenges were transformed into opportunities, setting new benchmarks in innovation and growth. KuCoin’s journey through the past twelve months has been marked by significant strides in expanding our market presence, enhancing product offerings, and achieving remarkable milestones that have further solidified our standing in the industry.

Let’s take a closer look at the key achievements and pivotal moments of 2023, reflecting on how KuCoin has grown with our users, while laying a strong foundation for future success.

Platform Development & Achievements

6th Anniversary with 30 million KuCoiners: we were thrilled to celebrate our 6th anniversary with a remarkable milestone of 30 million users. KuCoin now provides services across 207 countries and territories, and supports over 750+ assets with 1,300+ trading pairs.

Proof-of-Reserve Reports: The PoR report is a great source of ensuring trust and transparency by revealing our reserve level and allowing our users to verify it on-chain. We are proud to have released our monthly PoR reports for 12 consecutive months as of December 2023.

Awards: Other feathers we added to our cap this year include an award from Finder as one of the Best Global Crypto Investment Platforms in 2023, being selected into the Top 50 of Hurun’s Global Unicorn List 2023 and ranked #41 among the list of Top 100 Companies in Fintech in 2023.

Products & Services: In 2023, we launched various products and services that allow users to tailor their own portfolio that realize their personal financial goals. Pre-market trading, Futures 2.0, KuCard, SharkFin and so on. We were so happy to see so much positive feedback from our users, we will continue to explore and enrich our ecosystem.

Mandatory KYC Upgrade: This was a strategic move that aims to embrace global compliance requirements, foster a safer trading environment, and bolster the security level of user accounts. As more institutions follow in our footsteps, we believe the industry is moving towards a more sustainable direction.

Leadership & Industry Participation

Support for Blockchain Ecosystem: This year, KuCoin Ventures partnered with Ton Foundation for a grant that supports the development for the TON ecosystem. We believe this signifies a fresh synergy between exchanges and the blockchain landscape, and we aspire that this joint effort will serve as a motivating example, spurring further similar ventures.

Presence at Major Industry Events: As a leading industry player, we maintained our exposure by sponsoring and attending major industry events worldwide this year, namely TOKEN2049 in Singapore, Paris Blockchain Week, and Blockchain Life in Dubai, etc. We were pleased to meet and greet our users and other fellow leaders in the industry through such great opportunities, and we look forward to appearing in more similar occasions in the future.

Corporate Social Responsibilities: Despite still being in its infancy, the industry has come to the stage where we are expected to shoulder more social responsibilities and embrace ESG. Adopting ESG not only aligns crypto firms with global sustainability objectives but also favorably positions them in a market that is increasingly valuing responsible and ethical business practices. This proactive approach towards ESG can play a pivotal role in shaping a more sustainable and ethically grounded future for the crypto industry.

In response to this, KuCoin, as the first in the industry, participated in the 2023 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, more commonly referred to as COP28, to advocate the importance of green blockchain and explore how we can leverage blockchain technology for a greener future. The Chief Sustainability Officer of KuCoin presented in front of the delegates and ambassadors from various countries to promote blockchain-related knowledge and showcase the significance the blockchain industry brings to the global climate change issue.

During the week of COP28, KuCoin also hosted a charity dinner that welcomed over 200 guests to raise awareness of the health and education of the youth. We were glad to have different parties, projects and individuals joining us to contribute to build a stronger future generation of our world, and we will continue our mission as an industry leader.

At KuCoin, it is our responsibility to support those in need during times of crisis. Earlier this year, we donated 1,000,000 liras to Turkey's disaster relief through #AFAD to offer our hands to those who suffered from the devastating earthquake. We remain committed to providing disaster relief through various manners.

User Education & Industry Insights

KuCoin Learn: User education remained a paramount area of focus KuCoin continues to foster this year. To further enhance our users’ trading ability, we introduced KuCoin Learn, an academy that provides both practical guidance and concise courses on crypto and blockchain.

Country Reports: KuCoin published 7 reports titled "Understanding Crypto Users", featuring different regions and countries, including Germany, France, Pakistan and the UAE, etc. These reports have been widely distributed and have served as valuable insights into the demographics in different regional markets.

What’s Next?

2024 appears to be a promising year with signs of a burgeoning bull market. This optimistic outlook is expected to lead to the launch of an array of new products to facilitate user trading. With the resurgence of a bull market, the industry is likely to witness heightened collaboration and merger activities, and KuCoin is poised to seize appropriate business opportunities that arise.

Additionally, it is expected that more countries will introduce their own crypto regulatory frameworks, echoing the emphasis on KYC and preparing for a global regulatory trend. A significant event in the crypto world, the Bitcoin halving, is also scheduled to occur in April, further influencing the market dynamics in 2024.

From KuCoin’s perspective, 2024 will be the year that we will continue to serve our mission of facilitating the free flow of digital value around the world. We will stay dedicated to actively engaging with our users, keeping a close eye on market trends to provide better products and services, and attending offline events more often so that we can talk to our users face-to-face. Furthermore, as an industry leader, we will champion the sustainable development of the industry as always.

To summarize, in the coming future, we will focus on our ongoing commitment to serving our users, by not only aiding them in enriching trading-related knowledge, but also in bolstering their ability to mitigate risks to the greatest extent possible; we will keep promoting the sustainable development of the industry and the social responsibilities we carry as a leader.

With eyes set firmly on the horizon, we're ready to turn the challenges of today into the achievements of tomorrow, ensuring that KuCoin thrives with the industry in the dynamic year ahead.


Johnny Lyu