KuCoin, one of the leading cryptocurrency exchanges in the world, announced on Thursday that it had surpassed 20 million users. This is an important milestone for the company as it seeks to become a global cryptocurrency exchange.
The new milestone was attained after the cryptocurrency exchange reported a record-high number of registered users in the first half of 2022.
According to KuCoin, the platform attracted over 9.75 million new registered users in the first half of the year. Thus, bringing its total user base to over 20 million. The exchange said the number of registered users on its platform has doubled over the last seven months, as it previously reported achieving the 10 million user milestone in December of 2021.
Over the last seven months, KuCoin’s user base has increased by more than 200%, and the exchange attributed this massive growth to the expansion of its operations in Asia.
In Asia, the exchange recorded around 5.6 million new users, representing a 659% increase year-over-year. Latin America, Africa & the Middle East, and Europe showed 216%, 152%, and 142% new user registrations, respectively, on a year-on-year basis, the company added.
Johnny Lyu, CEO of KuCoin, commented that;
“As KuCoin's 5th anniversary is approaching, the number of registered users surpassed 20 million, which is another milestone for us. KuCoin is growing at a high speed with the support and trust of every user regardless of market conditions. To express our gratitude to users, we will provide more innovative products and services around NFT, GameFi, and Web 3.0 to help users access the crypto world more easily.”
The cryptocurrency exchange said the reason for its high growth is thanks to its globalization strategy and focus on new market penetration. It achieved market penetration via better community and language support for new products and feature launches.
KuCoin also added that 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, played a crucial role in the penetration of the exchange into Latin American and European markets.
To mark this latest achievement, KuCoin said it would launch the KuCoin Futures Global Team Battle later in July. The cryptocurrency exchange said;
“The First KuCoin Futures Global Team Battle with $1 million in prizes will give users the chance of winning up to $20,000 for joining. The event will also feature exclusive leader bonuses, newbie airdrops, and other rewards.”
KuCoin added that it is focusing on expanding its reach in Europe, the Middle East, South Asia, Africa, Latin America, and others over the coming months and years. Furthermore, KuCoin will also make efforts to provide users with localized products while strengthening relations with local influencers, media channels, and other industry representatives to promote crypto education and the popularization of digital assets usage.
The low KuCoin fees make it one of the most attractive cryptocurrency exchanges in the world. Is KuCoin available in the US? At the moment, KuCoin isn’t licensed to operate in the United States. However, with the exchange’s globalization plan currently in motion, KuCoin could be expanding into the North American country soon.