Well-liked cryptocurrency trade KuCoin has launched its first half 2023 evaluate, displaying spectacular development and innovation within the face of difficult market situations. The trade famous that it maintained sturdy development regardless of volatility within the cryptocurrency market by increasing its consumer base and adopting regulatory necessities to reinforce consumer expertise and reliability.
One of many key highlights of this evaluate was KuCoin’s rising consumer base, up 26% year-on-year, reaching 29 million registered customers by June 2023. In response to official statements, the Latin America (LATAM) area leads the way in which. development. Different areas such because the Center East and Africa, Europe and Asia noticed notable development in comparison with the primary half of 2022.
Along with the rising consumer base, KuCoin’s buying and selling quantity surged throughout the spot and futures markets to over $1 trillion. The report notes that this development was pushed by totally different areas, demonstrating the trade’s international attraction.
As well as, KuCoin buying and selling bots skilled vital development, with customers creating 12 million bots and producing over 5.7 billion USDT in buying and selling quantity within the first half of 2023.
Moreover, the trade mentioned it has launched complete safety measures, together with industry-standard encryption algorithms and multi-factor authentication for all consumer accounts. KuCoin claims that the majority buyer funds are saved in chilly wallets for added safety.
Curiously, KuCoin has teamed up with cybersecurity firm Hacken to launch the most important bug bounty program, providing a $1 million bug bounty to additional improve its safety efforts. KuCoin CEO Johnny Liu mentioned:
“We prioritized distinctive buyer help and leveraged the facility of our AI-driven chatbots to efficiently deal with over 300,000 consumer inquiries from January to June 2023. It kinds the muse of KuCoin’s values.”
Moreover, the evaluate report famous that the trade will recurrently publish proof-of-reserve (PoR) knowledge beginning in late 2022 to make sure that consumer funds are totally backed. The most recent snapshot on June 30, 2023 revealed excessive reserve ratios for numerous cryptocurrencies together with Bitcoin (BTC), Ethereum (ETH), USDT and USDC.
It’s value noting that KuCoin’s international growth efforts have been profitable, with over 300 new group members becoming a member of the corporate within the first half of 2023. Additionally, KuCoin’s international group and social media presence grew considerably, with consumer numbers up 20% over his. Extremely engaged, he has 2.5 million followers on Twitter and covers 24 international communities throughout totally different languages and areas.