KuCoin disclosed $1.99 billion in average daily spot trading volume for the first half of 2026, alongside a user base that has grown to 45 million. The exchange also highlighted a surge in tokenized stock trading and said its reserves held up well even as the broader crypto market shrank.
Tokenized stocks take off
KuCoin reported rapid adoption of tokenized stocks during the period. The exchange did not break out exact trading figures for that segment, but described the growth as fast. Tokenized stocks let users trade fractions of traditional equities on-chain, and KuCoin has been expanding its offerings in that area. The trend mirrors a broader push by several exchanges to bridge conventional finance with crypto rails.
Reserves hold steady
While many crypto platforms saw reserve ratios dip amid a market contraction, KuCoin said its reserves remained resilient. The company did not provide a specific reserve ratio or dollar amount, but the statement suggests it maintained sufficient assets to cover customer balances. The broader market contraction referenced by KuCoin aligns with a period of lower prices and reduced trading activity across the industry in early 2026.
User growth continues
KuCoin’s user count hit 45 million, up from previous figures. The exchange did not give a precise timeline for when it crossed that threshold, but the number reflects steady onboarding even as competition from larger platforms like Binance and Coinbase remains intense. KuCoin has historically focused on a wide range of altcoins and early-stage tokens, which may have helped attract traders looking for listings not available elsewhere.
The exchange did not provide forward guidance for the second half of 2026. Its H1 report leans heavily on tokenized stocks and reserve strength as differentiators. Whether those factors can sustain growth if the broader market stays flat is an open question.
