A leading exchange just released its 2025 performance report, and the numbers are quite impressive. The global registered users have surpassed 13 million, which is already a significant base in the industry. Even more astonishing is the trading performance—spot trading has surged by 58.5% year-over-year, and derivatives have grown even more dramatically, reaching 68%. The growth trend in trading volume over the past two years is definitely accelerating.

What’s even more noteworthy is the financial products segment, where capital deposits have increased by 468% year-over-year, an astonishingly exaggerated growth. What does this mean? It indicates that many users are starting to engage more with derivatives and financial management products on this platform. The platform added 1,193 new assets throughout the year, which means they’ve been putting a lot of effort into expanding their offerings.

From a strategic perspective, the platform’s ambitions go beyond just matching trades. The synchronized development of payment and fiat on-ramps, AI tools, DEX, and the Web3 ecosystem shows they’re thinking about how to step out of the traditional exchange role and expand a broader ecosystem. This momentum is quite interesting.