1 year ago
88 Per a joint statement, KuCoin traders can now trade crypto futures, spot, margin, options, perpetual swaps and other products available on its platform via Coinrule API. For this purpose, Coinrule integrates KuCoin spot market data, allowing users to trade current crypto assets and other products to be supported in the future.
KuCoin, which is said to have over 18 million users in 200 countries, is the fifth-largest crypto exchange in the world by trading volume, competing with the likes of Coinbase, Binance and Kraken.
The new product encompasses KuCoin’s trading infrastructure and order management system, including its Trading Bot service that was launched back in 2021. The tool supports 5 trading strategies, allowing users to earn passive income without monitoring the market.
The collaboration comes at a time when automated trading has permeated the market to a higher degree. The partnership will help support current automated robot traders, incentivizing them to switch over to KuCoin’s relevant services, which already enables users to utilize a wide range of strategy building tools at their disposal.
Founded in 2018, Coinrule enables cryptocurrency traders to automate their investments across multiple platforms. They can create and test automated trading strategies to benefit from market opportunities and also to protect them against adverse events. Its unique edge among other vendors in the market is that it allows them to benefit from algorithmic trading without having to learn a single line of code.
KuCoin valuation jumps to $10 billion
Per its own statics, Coinrule has grown rapidly over the last two years and now has nearly 20,000 users trading assets worth $100 million every month.
KuCoin CEO Johnny Lyu stated: “As the ‘People‘s Exchange’, KuCoin is committed to easy-to-use trading tools for users to bring crypto to mass adoption. And the partnership with Coinrule is a big step towards this.”
Gabriele Musella, CEO & Founder of Coinrule added: “At Coinrule, we are glad to see KuCoin joining our integration program. Our Users are eager to trade on KuCoin and to explore all the markets it provides.”
KuCoin’s new offering comes during a challenging time for the cryptocurrency industry. After a meteoritic surge that drove all coins to record highs in late 2021, digital tokens have tumbled due to various economic and regulators factors.
The service expansion also comes barely a month after KuCoin raised $150 million in a pre-Series B financing round, valuing the company at $10 billion. That was the first investment into KuCoin since the four-year-old platform pulled in $20 million in 2018 at a $100 million valuation.
KuCoin, established in September 2017, is one of the popular cryptocurrency exchanges, having handled almost $1 billion worth of cryptocurrency transactions over the last 24 hours, according to Coinmarketcap.com.
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