KuCoin Eyes EU Market with MiCA License as User Base Hits 34 million

- Global expansion driven by EU MiCA license application and regulated launch in Thailand. - Trading platform, security, and fintech services upgraded to support growing user base. On July 16, 2024, CoinDesk reported that the Seychelles-based cryptocurrency exchange KuCoin achieved remarkable growth and crucial regulatory milestones in the first half of the year. The platform secured a MiCA-compliant license via its VASP registration in Spain, a move that signals its compliance with stringent EU regulations and readiness to expand within Europe. During this period, KuCoin also launched a fully regulated subsidiary in Thailand. Supervised by the Thai Securities and Exchange Commission (SEC), this marks a significant entry into the Southeast Asian market. Globally, KuCoin's user base surged past 34 million as a result of strong domestic interest and effective international outreach strategies. Although often mischaracterized as a South Korean company, KuCoin maintains its headquarters in Seychelles but now focuses on re-entering the South Korean market with a compliance-first approach after facing previous regulatory hurdles. KuCoin’s derivatives platform also performed exceptionally in H1 2024. According to CoinGlass, KuCoin Futures ranked fifth globally, a success driven by cutting-edge trading features and the addition of 105 new futures markets. Spot trading also expanded, with the exchange listing 178 new tokens. This pushed the total number of assets on the platform above 970 and catered to the growing demand for popular digital assets, from meme tokens to real-world assets (RWAs). Security remains a cornerstone of KuCoin's operations. The exchange achieved SOC 2 Type II and ISO 27001:2022 certifications, which aligns with its security-first policy and strategic commitment to users. Additionally, CER.live awarded KuCoin an AAA security rating, placing it among the top five secure crypto exchanges worldwide. A partnership with BitGo provides a $500 million insurance fund to reinforce these robust security measures. In fintech, KuCoin Pay expanded its Southeast Asian footprint by integrating partnerships to support regional QR-based payment systems like AEON’s VietQR and QR Ph codes. Meanwhile, the KuCard crypto debit card saw its transaction volume increase by 28%. The card now offers competitive rewards, including up to 8% cashback for high-tier users, and integrates with Apple Pay and Google Pay. KuCoin's automated trading services also experienced significant growth. In H1 2024, the KuCoin Trading Bot platform added 8.8 million new bots, while AI-driven improvements and the addition of new tokens and futures offerings boosted trading volumes by 38%. According to CoinMarketCap, KuCoin Token (KCS) is trading at $11.687 as of July 16 at 16:09 UTC. Its 24-hour trading volume shows an increase of 1.034%. These figures underscore the platform's continued growth and adaptability in a rapidly evolving market.