LBank Surpasses 25 Million Users as AFA Partnership Drives Growth

LBank announced on June 5 that it has reached 25 million registered users globally, marking a significant milestone in its expansion strategy. The growth was fueled by the exchange's deepening partnership with the Asia Financial Association, which has expanded LBank's footprint across regional markets over the past year.

The 25 million user milestone represents 25% year-over-year growth, with LBank hitting 20 million users approximately one year earlier. This positions LBank among the larger global crypto exchanges by registered user count, competing directly with Binance, OKX, and Bybit for market share.

LBank attributed the acceleration to its AFA partnership expansion, which has broadened the exchange's reach into underserved Asian markets. The collaboration has enhanced local payment rails, customer support in regional languages, and compliance infrastructure across multiple jurisdictions. However, the announcement does not quantify how much of the new user growth came directly from the AFA partnership versus organic acquisition channels.

The milestone comes during intense competition among centralized exchanges. Binance and OKX have similarly pursued aggressive regional partnerships and localization strategies to capture emerging market users. Registered user counts, while a headline metric, do not necessarily reflect active trading volume or retained users. Many exchanges report inflated user numbers that include dormant accounts created but never activated for trading.

LBank has not disclosed active user metrics, retention rates, or geographic distribution of its 25 million registered users. These figures would provide clearer insight into whether the milestone represents genuine engagement or simply account accumulation. The exchange also did not specify the revenue impact of new users acquired through the AFA partnership or provide trading volume data to validate the quality of the user base expansion.