Global cryptocurrency exchange KuCoin has announced that it has reached 20 million users. The new milestone comes after the platform reported a record number of registered users in the first half of 2022.
Notably, KuCoin has attracted over 9.75 million new registered users in the first half of 2022 as highlighted in the KuCoin H1 2022 report, bringing the total number of users to over 20 million. The figures show a doubling of registered users in 7 months as the exchange previously reported that it had reached the 10 million user milestone in December 2021. The 219% increase in user base in the first half of 2022 is largely due to the expansion of the exchange’s operations in Asia, which resulted in the attraction of 5.6 million new users, a 659% year-over-year increase. Latin America, Africa and the Middle East, and Europe saw 216%, 152%, and 142% new user registrations year-over-year, respectively.
“As KuCoin’s 5th anniversary approaches, the number of registered users has surpassed 20 million, which is another milestone for us. KuCoin is growing at a fast pace with each user’s support and trust, regardless of the market conditions. To express our gratitude to users, we will provide more innovative products and services related to NFT, GameFi and Web 3.0 to facilitate users’ access to the crypto world,” said Johnny Lyu, CEO of KuCoin.
The main reasons behind this growth in user numbers are KuCoin’s globalization strategy and focus on new market penetration through 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 helped the exchange penetrate Latin American and European markets. These factors, coupled with new product launches that have strengthened the exchange’s entire ecosystem, have enabled it to attract new users.