Crypto exchange KuCoin’s expansion in 2024 saw record adoption in LATAM and MENA, driving its user base to nearly 40 million.

KuCoin‘s user base hit 38 million in 2024, with the biggest growth in Latin America and the Middle East/North Africa, the exchange said in a press release shared Coin Insider Daily. More users in these regions jumped into spot and futures trading, driving the surge, KuCoin added.

KuCoin says trading in MENA tripled from 2023, while Europe saw a 144% jump. The platform also added 300 new tokens in 2024, with over 30% listed in the last quarter. KuCoin’s futures trading grew a lot too, adding 125 new assets and bringing in over 3 million new traders, the exchange says.

“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.”

KuCoin

KuCoin teases AI upgrades, skips US market talk

Looking ahead to 2025, KuCoin plans to roll out “AI-driven solutions” and user-focused upgrades, though it did not provide specifics.

The report also omitted mention of the exchange’s $297 million fine after it pleaded guilty in a U.S. court to failing to comply with anti-money laundering regulations. As previously reported by Coin Insider Daily, KuCoin admitted to operating an unlicensed money transmission business and violating U.S. anti-money laundering and know-your-customer regulations. As part of the settlement, the company must exit the U.S. market for at least two years.

According to CoinMarketCap data, KuCoin now ranks eighth in daily trading volume, surpassing $1 billion, placing it just behind U.S.-based Kraken.