The exchange's H1 2026 report shows 121 tokenized stock perpetual contracts in three months, a 45% drop in BTC/ETH share, and a 300% jump in off-chain payments.
KuCoin crossed 45 million registered users, the exchange said in a performance report published with CoinGecko, as it approaches its ninth anniversary in September. The report, covering the first half of 2026, highlights the exchange's expansion into tokenized equity derivatives, its regulatory push in multiple jurisdictions, and a shift in trading activity away from Bitcoin and Ethereum.
User growth accelerated from 5 million in 2017 to 45 million today, with the platform now serving customers in more than 200 countries. Regulatory milestones included MiCAR licensing in Austria through KuCoin EU, Digital Currency Exchange registration with Australia's AUSTRAC, and becoming the first global crypto exchange to register with India's Financial Intelligence Unit. KuCoin also completed 44 consecutive months of Proof of Reserves reporting, backed by 14 independent audits from Hacken.
Trading volumes held up despite a broader market slowdown. Average daily spot volume reached $1.99 billion in the first half of 2026, with perpetual futures averaging $3.07 billion a day. Activity peaked during February's Bitcoin liquidation event, when daily spot volume climbed to $6.91 billion and perpetual futures hit $6.73 billion. KuCoin said its reserves declined 21.8% over the period, outperforming the average drop at several other major exchanges.
The report's standout finding is the rapid build-out of tokenized stock perpetual futures. KuCoin launched the category in March and added 121 stock-linked perpetual contracts in just over three months. The list covers Apple, Microsoft, Nvidia, Amazon, Meta, Alphabet, Tesla, plus semiconductor firms, financial institutions, ETFs, and a pre-IPO contract referencing OpenAI. The move mirrors a broader trend toward tokenized equity products. Overall, KuCoin listed 107 new spot pairs and 198 perpetual contracts during the period.
Bitcoin and Ethereum's combined share of KuCoin's leading spot trading pairs fell from 74.3% to 45.2%, a shift the report attributes to growing interest in altcoins and emerging narratives. AI- and DeFi-related tokens dominated the list of top-performing assets on the exchange.
Outside trading, KuCoin's payments business showed strong growth. Off-chain payment volume rose 300%, while total payment orders grew roughly 25-fold. KuCoin Pay expanded localized payment infrastructure in Latin America, Asia, and Africa. KuCard entered the Australian market through Mastercard's global network. The exchange also serves as the Official Exclusive Crypto Exchange and Crypto Payments Partner for the Tomorrowland festival, part of a broader push into real-world digital asset adoption.
The report argues that the next phase of crypto will be defined less by trading volumes and more by regulatory readiness, transparency, institutional-grade infrastructure, and practical utility. KuCoin expects to celebrate its ninth anniversary in September.
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