KuCoin taps Coinrule to offer automated crypto trading

abdelaziz Fathi

Cryptocurrency exchange KuCoin is teaming up with fintech startup Coinrule to provide its investors with an automated crypto trading platform.

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.

Read this next

Inside View

Private Equity Renaissance

Recent years have seen a resurgence in the concept of trading physical equities, with a slew of new arrivals joining the market for what is arguably one of the oldest forms of investing. But what has been the driving force behind this change in momentum?

Digital Assets

Dubai introduces new crypto regulations with fines of up to $135,000

Against the backdrop of a crashing market and burned investors, Dubai has sealed a landmark rulebook that governs how the Emirate will regulate cryptocurrency activities.

Institutional FX

FX volume drops 16pct at Russia’s largest exchange in January

The Moscow Exchange, Russia’s largest exchange group, released its monthly batch of trading volumes and metrics for January 2023 – the latest readings showed a pullback across the board for multiple segments, namely in the FX, given lower volatility and a reduced trading schedule.

Institutional FX

Standard Chartered sets up wholly-owned brokerage arm in China

UK-headquartered bank Standard Chartered said its Hong Kong arm has been granted an in-principle approval for a brokerage license from the China Securities Regulatory Commission (CSRC).

Digital Assets

Revolut offers staking for Ether, Cardano, Polkadot, and Tezo

British fintech and banking firm Revolut has introduced crypto staking — a practice of earning rewards for serving as a transaction validator in the Ethereum blockchain – to its UK and European Economic Area (EEA) customers.

Inside View

Saxo releases Q1 2023 Quarterly Outlook: “The Models Are Broken”

“2023 is likely to prove a rough ride for currencies if the USD bear market fails to continue in a straight line, but EUR and JPY may outperform.”

Institutional FX

FXPA welcomes Mesirow as a member of the institutional FX industry body

“Our deep commitment to advancing best practices align well with FXPA’s goals of championing a robust FX market for all industry participants.”

Industry News

ICE delivers Russian-free barrels of ICE Gasoil and expands ESG data in APAC

ICE changed the methodology for Low Sulphur Gasoil futures from previously delivering diesel from any origin, to deliver diesel that does not include any originating from Russia. ICE Gasoil is the global benchmark for refined oil products.

Digital Assets

Gate.io taps Coinfirm for AML/CFT compliance amid licenses in the US, Europe, Hong Kong

“At Gate.io, we continuously strive to mitigate AML/CFT and counterparty risks by integrating best-in-class security measures and safeguards into every part of our operations.”

<