2025 H1 Review: Building Trust, Driving Innovation, Shaping the Future

Looking Back on Our Journey

In the first half of 2025, we continued our trajectory of deepening trust, accelerating innovation, and expanding our global reach. Amid evolving crypto landscapes and regulatory frameworks, we stayed true to our mission of building a secure, reliable, transparent, user-centric, and compliant platform for all. We achieved significant milestones in trading volume, product expansion, and social responsibility.

Key highlights include:

• Expanding Global User Base: Surpassed 41 million users.

• Security & Certifications: Launched the $2 billion Trust Project to build a reliable, secure, and innovative platform — reaffirmed by achieving SOC 2 Type II and ISO 27001:2022 certifications, earning an AAA rating from CER.live (ranking among the top four most secure exchanges globally), and integrating with BitGo’s Go Network.

• Major Compliance Milestones: Submitted a MiCA license application in Austria; officially launched KuCoin Thailand in April 2025 under an SEC license.

• Product Innovations: KuCoin Pay expanded globally and Trading Bots recorded an over 40% increase in trading volume.

• Spot Trading Growth: Spot trading volume achieved double-digit growth, with rapid expansion in the MENA and LATAM regions.

• Investments: KuCoin Ventures & Labs fueled innovation through strategic investments and active industry engagement.

• Customer Service: Managed over 1.5 million customer inquiries, boosting satisfaction by 12%.

• Corporate Social Responsibility: Won the UNWWO CSR Award and delivered 9,700 solar lamps and 5,000 menstrual kits globally.

Industry Landscape: Key Trends and Developments

In the first half of 2025, the crypto industry was shaped by significant regulatory advancements, institutional adoption, technological innovation, and macroeconomic factors:

• Bitcoin & Altcoins: Bitcoin rose 13% to $107,000, fueled by institutional interest. Meanwhile, Ethereum (-25%) and Solana (-17%) declined, reflecting broader struggles for altcoins.

• Meme Coins & On-Chain Trading Platforms: Meme coins remained a vibrant sector, with growing market caps fueled by community engagement and cultural influence. The rise of on-chain trading platforms provided greater transparency and attracted traders seeking decentralized alternatives.

• Stablecoin & RWA Growth: Stablecoins surpassed a $200 billion market cap, playing a vital role in cross-border payments and DeFi liquidity. The tokenization of Real World Assets (RWA)—including commodities, bonds, and real estate—gained momentum, enabling new forms of yield generation and institutional participation.

• Regulatory Clarity: The U.S. advanced stablecoin regulations and established an SEC Crypto Task Force. Europe rolled out the MiCA framework, providing structured guidelines for crypto assets. In Asia, markets diverged — Hong Kong, Singapore, and Thailand introduced supportive regulations, while Mainland China and South Korea maintained strict oversight.

• Institutional Integration: Institutional interest increased, evidenced by expanded Bitcoin and Ethereum ETF offerings and enhanced custody and asset management solutions from major financial institutions like Fidelity and BitGo.

• Technological Innovation: Decentralized Artificial Intelligence (DeAI) gained momentum, while multi-chain interoperability and Layer-2 solutions accelerated — notably evidenced by Ethereum’s scalability upgrades and thriving ecosystems like zkSync, Arbitrum, and Cosmos.

• Market Sentiment & Economic Factors: Central banks, including the Federal Reserve, initiated rate cuts, which revitalized market liquidity and optimism. Investors favored established crypto assets (Bitcoin, Ethereum) and regulated products amid economic uncertainty.

Compliance and Regulation: Strengthening Trust Through Global Compliance

We significantly advanced our compliance initiatives globally, demonstrating our commitment to regulatory alignment, transparency, and long-term user trust:

• MiCA License Application in Austria: We proactively submitted an application for a Markets in Crypto-Assets (MiCA) license in Austria, positioning us to operate seamlessly across all EU and European Economic Area (EEA) countries under the EU’s emerging regulatory framework. This strategic move underscores our readiness to fully comply with European standards for market integrity, transparency, and investor protection, and highlights our proactive approach to meeting international compliance expectations.

• KuCoin Supports KuCoin Thailand officially opened to all eligible users in Thailand: This marks the first fully regulated local digital asset exchange under the KuCoin brand, licensed by the Thai SEC — a significant milestone in KuCoin’s mission to build fast, secure, and user-friendly infrastructure for crypto users worldwide. KuCoin Thailand leverages KuCoin’s world-class global technology, tailored to meet the needs and preferences of Thai users. With a focus on robust security, intuitive design, and localized user experience, it represents the first fully compliant exchange in Southeast Asia under the KuCoin brand.

Through these targeted efforts, we have positioned ourselves as a globally compliant crypto exchange fully aligned with international regulatory developments. This compliance-first strategy further establishes us as a trusted platform built for long-term resilience, investor confidence, and sustainable global expansion.

Security & Certifications: Building a Safer Crypto Ecosystem

We further strengthened our security infrastructure in H1 2025, achieving major milestones that reinforce our position as one of the most secure crypto exchanges globally. Central to these efforts was the launch of our long-term commitment — the $2 billion Trust Project — aimed at advancing platform integrity. This initiative focuses on implementing continuous 100% proof-of-reserves verification, a zero-trust security architecture, advanced encryption, and comprehensive infrastructure upgrades — all designed to deliver greater transparency and resilience while building a secure, reliable platform.

• SOC 2 Type II and ISO 27001:2022 Certifications: We completed rigorous independent audits to earn SOC 2 Type II certification and to maintain our ISO 27001:2022 certification. These internationally recognized credentials validate our strong internal controls, data security practices, and operational risk management, ensuring compliance with the highest standards for safeguarding user assets and information.

• Institutional-Grade Custody with BitGo: We integrated with BitGo’s Go Network, providing institutional clients with off-exchange settlement and segregated custody backed by up to $250 million in insurance coverage. This integration reduces counterparty risk and enhances asset security for professional traders.

• AAA Rating from CER.live: We attained a prestigious AAA security rating from CER.live, ranking among the top four most secure exchanges worldwide. This rating reflects excellence across multiple categories, including server security, user account protection, penetration testing, and responsiveness to vulnerabilities.

• Proactive Threat Management: In the first half of 2025, our security systems issued over 23.7 million real-time alerts, proactively notifying users of suspicious activity. We also expanded our Bugcrowd bug bounty program, increasing the maximum reward to $10,000 to incentivize external security researchers to identify and report vulnerabilities.

These achievements highlight our commitment to setting new benchmarks in crypto exchange security, delivering a trusted and resilient trading environment for both retail and institutional users.

New Assets and Listings: Explosive Growth in Listings and Advanced Features

We expanded our spot trading platform in H1 2025, enhancing our offerings to reach over 1,000 listed tokens.

• Approximately 170 new tokens were listed, of which over 100 were world premieres and 28 were launched through GemPool.

• Formed partnerships with more than 20 projects and attracted over 300,000 new users to the platform.

• Listed trending project tokens such as LAUNCHCOIN, USELESS, DARK, TRUMP, and MELANIA in a timely manner.

• Ensured comprehensive coverage of high-profile project launches, including KAITO, IP, SPK, NXPC, and WCT.

• GemPool updates: Introduced an invitation task system and APR reference feature, leading to a 450% increase in new-user participation.

• Spotlight relaunched: Our token launch platform was restarted to provide early access to high-potential projects through exclusive sales. This relaunch empowers users with curated opportunities while supporting innovative blockchain startups.

These efforts resulted in explosive listing growth and introduced innovative platform features, reinforcing our position as a leading platform for discovering and launching new crypto assets.

Futures Trading H1 2025: Growth and Enhanced Features

In the first half of 2025, our futures trading business maintained strong momentum while we rolled out multiple platform upgrades:

• Expanded product coverage: All contract pairs now fully support cross-margin mode, improving capital efficiency and risk management.

• New listings: Added 106 new futures assets in H1 2025 to meet diverse trading demands.

• Industry recognition: Ranked #4 globally for futures on CoinGlass among all derivatives exchanges, underscoring KuCoin’s growing influence and competitiveness in the derivatives market.

• New order type: Introduced trailing stop orders, allowing users to set dynamic trigger prices based on market movements, thereby automatically locking in profits or limiting losses as trends evolve.

• Funding fee settlement: Adjusted the funding rate settlement cycle to align with industry standards — now set at 00:00, 08:00, and 16:00 — ensuring consistency with competitors and enhancing fairness.

These updates reflect our commitment to delivering a more competitive, flexible, and trader-friendly futures experience.

Trading Bot: Driving Automation with a 44% Surge in New Bots

In 2025, our Trading Bot platform saw impressive growth, fueled by increasing user adoption and continuous feature enhancements. Users created 8.9 million bots, representing a 36% year-over-year increase, and 95,796 new users began using the service. The platform's total trading volume exceeded 36 billion USDT, marking an over 40% YoY increase and reinforcing our leadership in automated trading solutions.

We redesigned the bot creation page with new strategy options such as DualFutures AI, AI Dynamic Grid, Spot Martingale, Futures Martingale, and Smart Rebalance, simplifying the strategy creation process and enhancing user experience. Other optimizations included refining the liquidation formulas for Futures Grid and Futures Martingale bots, and increasing the maximum grid count to 200 for spot grids and 150 for futures grids.

Our Trading Bot service is set to launch in Australia and Europe to meet regional compliance requirements. For users, choosing the right bot strategy for various market scenarios is critical. These enhancements make automated trading more accessible, efficient, and profitable, further solidifying our position as a leading crypto trading platform.

KuCard: Driving Growth with KCS Integration and Ecosystem Expansion

In the first half of 2025, KuCard achieved significant growth milestones:

• Transaction volume: More than doubled compared to H1 2024, and grew by over 30% from H2 2024.

• User base: Grew by over 40% compared to H2 2024, with approximately 30% penetration in the EEA region — reflecting strong international adoption.

• KCS cashback: High-tier users (e.g., K4) now enjoy an additional 5.5% KCS cashback on KuCard purchases, bringing total cashback up to 8.5% when combined with standard rewards.

KuCard also launched its first brand collaboration with Wise Monkey, laying the foundation for future co-branded campaigns. Expansion plans for Q3 2025 include launching services in Australia, New Zealand, and Latin America, further growing KuCard’s global reach.

KuCoin Pay: Advancing Crypto Payments for Real-World Utility

Since its launch in 2024, KuCoin Pay has continued to redefine the way people transact by bringing crypto into everyday life. Over the past year, it has evolved into a dynamic global payments ecosystem, empowering users to leverage crypto for a wide range of real-world services.

Through strategic partnerships with diverse merchants worldwide, our users can now use crypto to purchase a broad range of products and services — including online voucher codes, VPN packages, domain names, eSIMs, mobile airtime top-ups, and even forex trading services — all in a seamless manner.

In a landmark collaboration with leading payment provider AEON, KuCoin Pay users in Southeast Asia can now pay for goods and services at millions of retail locations directly with crypto by scanning VietQR and QR Ph codes. This integration delivers a fast, secure, and frictionless checkout experience.

With each new partnership and integration, KuCoin Pay continues to bridge the gap between crypto and real-world utility, bringing the future of payments into the present.

Ventures & Labs: Driving Innovation and Industry Growth

In the first half of 2025, KuCoin Ventures & Labs continued to delve into cutting-edge fields such as blockchain, artificial intelligence, and emerging payment solutions through strategic investments and forward-looking research. We remained focused on identifying and supporting the most promising innovative projects to fuel the industry’s core momentum. Our investment portfolio expanded with several outstanding additions strategically positioned in key sectors, including DeFi, multi-chain infrastructure, decentralized AI data, and stablecoin payments. These new investments included Momentum, Codatta, Mango Network, U2U Network, Alaya.AI, Yotta Labs, and Allscale.

Beyond expanding our investment landscape, we also prioritized fostering interaction and knowledge sharing across the ecosystem. We were deeply involved in top-tier global industry events — including EthCC, Token 2049, ConsenSys Hong Kong, and the Hong Kong Web3 Festival — engaging with the community and sharing insights. Furthermore, our research division increased its external contributions by launching a weekly industry watch report offering unique, timely perspectives. It also published multiple in-depth research reports on hot-button topics such as on-chain crypto-asset trading platforms and global stablecoin regulatory frameworks, providing invaluable analysis to the market.

By combining strategic investments, industry participation, and in-depth research, we continuously inject new vitality into the Web3 ecosystem’s long-term prosperity, acting as a catalyst for the industry’s growth.

Customer Service: Commitment to Excellence and Building Trust

• Inquiries handled: Over 1.5 million customer consultations.

• Customer satisfaction: 12% increase.

• Premium service: 1-on-1 VIP support expanded to more channels.

In the first half of 2025, our customer service team handled over 1.5 million inquiries, achieving a 12% increase in overall customer satisfaction compared to last year.

With more than 60% of inquiries now supported by AI tools, we significantly enhanced the speed and accuracy of our responses to customer needs. These tools are also leveraged for data analysis, sentiment monitoring, and quality assurance, enabling us to address issues proactively and improve user experiences. AI has also optimized task allocation and team scheduling, boosting operational efficiency.

In addition, our exclusive 1-on-1 VIP support service expanded to more channels, providing personalized, premium solutions to meet diverse customer needs.

Proof of Reserves (PoR): Safeguarding User Assets with Transparency

We are committed to protecting user assets through robust security measures and full transparency. We publish verified monthly Proof of Reserves (PoR) reports, ensuring users have real-time insight into our asset backing.

 As of June 30, 2025, our latest snapshot confirms:

• BTC Reserve Ratio: 110%

• ETH Reserve Ratio: 110%

• USDT Reserve Ratio: 114%

• USDC Reserve Ratio: 112%

All user deposits are fully backed with a collateralization ratio exceeding 1:1, reinforcing our dedication to financial security and trust. Additionally, we support independent verification, allowing users to personally verify their asset holdings for added peace of mind.

Awards & Recognition

In the first half of 2025, our commitment to security, innovation, compliance, and social impact was widely recognized by leading global institutions and industry platforms. These honors reflect our position as a trusted, forward-thinking exchange that delivers both technological excellence and positive societal contributions. They also highlight KuCoin’s success in offering diverse products, maintaining robust operational standards, and fostering inclusive growth in the crypto space.

• 2025 Corporate Social Responsibility Award — United Nations World Women Organization (UNWWO)

• Best Crypto Exchanges 2025 — Forbes Advisor

• Achieved ISO 27001:2022 Certification

• Completed SOC 2 Type II Certification

• Top Ranked Exchange — CoinGecko

• Top Ranked Exchange - CoinMarketCap

• Top 4 most secure exchanges globally - AAA rating from CER.live

• KuCoin Futures: Top 4 Ranked Derivatives Exchange -  CoinGlass

• Best Crypto Exchange 2025 — CoinBureau

• Top 5 Most Trusted Crypto Exchange 2025 — CryptoDaily

These accolades reinforce our global reputation for excellence across user experience, security, product diversity, and responsible blockchain leadership.

Corporate Social Responsibility: Driving Social Impact and Sustainable Blockchain Leadership

In the first half of 2025, we continued to strengthen our commitment to Environmental, Social, and Governance (ESG) initiatives and transparency:

• Dedicated ESG channel: We became the first crypto exchange to launch an independent ESG account on X. This move underscores our commitment in responsible Web3 development.

• Impactful programs:

• • Light Up Africa: Distributed over 9,700 solar lamps, benefiting over 10,000 students in Nigeria, Sierra Leone, and Ghana.

• • Menstrual Equality: Provided over 5,000 reusable hygiene kits across Suriname, the Bahamas, and U.S. shelters.

• • Climate Change Buckets: Delivered health and safety supplies to women and children in climate-vulnerable regions.

• Global recognition: Received the 2025 UNWWO Corporate Social Responsibility Award at CSW69 — a first for the blockchain industry — for advancing gender equality and benefiting approximately 50,000 women and children globally.

• Strategic ESG goals:

• • Enhance transparency with tangible impact reporting.

• • Strengthen trust among regulators, investors, and partners.

• • Lead dialogue on sustainable blockchain innovation.

• • Engage global Web3 communities in ethical crypto adoption.

Going forward, we will continue to expand these initiatives in H2 2025, with a focus on measurable impact and inclusive growth.

2025 Outlook: Strengthening Trust, Expanding Globally, and Innovating for the Future

Looking ahead to the second half of 2025, we remain steadfast in our mission to build a secure, reliable, and transparent crypto ecosystem. We are accelerating our expansion into regulated markets — including pursuing a MiCA license in the EU, supporting the SEC-regulated platform in Thailand under the KuCoin brand, and planning new market entries in several regions — underscoring our commitment to compliance and responsible growth.

Security remains the foundation of our platform. We will continue to advance our long-term commitment to the community through the $2 billion Trust Project and initiatives aimed at building a transparent, secure, trustworthy, and reliable ecosystem. At the same time, we are focused on driving adoption of our core products — such as new assets and listings, KuCard, KuCoin Pay, Trading Bots, spot and futures tools — to ensure they meet the evolving needs of both retail and institutional users.

By combining rigorous regulatory alignment, cutting-edge innovation, and a user-first mindset, we are poised to shape a more secure, inclusive, and resilient future for crypto worldwide in the remainder of 2025.