VICTORIA, Seychelles–(BUSINESS WIRE)–July 7, 2022–
Leading global cryptocurrency exchange KuCoin has released its semiannual report highlighting the main metrics and achievements of 2022. The report delves into both market performance and innovative product development aimed at solidifying the exchange’s position in the decentralized assets market across various jurisdictions.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220707005263/en/
KuCoin 2022 H1 Review (Photo: Business Wire)
The report for H1 of 2022 released by KuCoin indicates that the number of registered users of the exchange has surpassed 18 million, and the number of global employees exceeded 1,000. The development comes as KuCoin received a $150 million pre-Series B funding round from Jump Crypto, Circle Ventures, IDG Capital, and Matrix Partners, bringing its valuation to $10 billion.
Since the beginning of the year, KuCoin achieved a cumulative trading volume for Spot and Futures exceeding the $2 trillion milestone, showcasing a 180% growth compared with the same period in 2021. Peak trading volumes for Spot were recorded at $11 billion, while Futures reached $23 billion. Compared with the same period last year, the European market led the first half of 2022 at $481 billion in trading volume, up 381%. Latin America achieved $453 billion at a 189% increase, while Africa & the Middle East saw $392 billion in volumes with 152%.
On the user growth side, KuCoin attracted approximately 9.75 million newly registered users globally in 2022 H1 – up 219% compared with the same period last year – mostly from Asia, Europe and Africa & the Middle East. Asia leads in this regard with about 5.6 million new users in the first half of the year, up to 659% growth. Latin America, Africa & the Middle East, and Europe increased by 216%,152%, and 142% respectively compared to the same period in 2021.
In terms of team traction, KuCoin is recruiting about 300 talents in R&D, marketing, business development, and other directions to continue development.
In H1 of 2022, KuCoin listed a total of 137 crypto assets, bringing the number of assets available to over 700, including a total of 31 crypto assets with world premiere listing, and 5 assets listings on the exclusive token launch platform Spotlight, and 5 projects launched on Burningdrop. Over 70 new tokens have been added, making the total trading options in KuCoin Margin exceed 200. KuCoin Labs also invested a total of $20 million in 19 Crypto-Native Projects in H1 of 2022, further promoting the exchange’s penetration of decentralized space.
On the innovative product frontier, KuCoin launched the NFT Marketplace – Windvane and a $100 million Creators Fund to empower Web-3.0 exploration. Another major release was KuCoin Wallet, which officially went live as an easy-to-use crypto wallet that supports multi-chain aggregation powered by the KuCoin ecosystem.
The H1 2022 KuCoin report showcases that the exchange has been achieving considerable traction in its global expansion and product deployment. Click here to get the full H1 2022 Review.
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, P2Pfiat trading, futures trading, staking, and lending to its 18 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.
To find out more, visit https://www.kucoin.com.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.