Global segment ranking · Fintech › Crypto & digital assets

The world’s most valuable crypto exchanges

Centralized platforms where retail and professional users buy, sell and trade crypto-assets. Ranked worldwide by AI-estimated valuation. The market sets the value; our AI estimates it.

Edition 0 (beta) · Published September 29, 2026 Twice a yearNext edition: January 1, 2027· Claude · multi-AI consensus in a future edition· Published method· Order never changed by a human

Key metrics for this segment: users, trading volume, revenue. Figures as published by each company or the press, dated, not recalculated. The AIs weigh them alongside funding history and comparables.

Not in this segment. Hardware wallets, stablecoin issuers, institutional custodians, blockchain infrastructure and multi-asset online brokers each have their own segment. A company appears in one segment only. Method

The segment at a glance

11companies ranked

5companies on the radar

8countries in the ranking

5listed benchmarks

Sources: Fortune, CoinDesk, The Block, Blockworks, Forbes, Korea Herald, Finance Magnates, FinTech Futures, Architect Partners, company announcements. Intention counters will be shown above a threshold of amount and number of Backers.

Rankings by region

Filter the ranking and the Radar. Ranks stay worldwide.

Global ranking · Crypto exchanges

Top 11 Radar Challengers

First edition: no movements yet.

World · 11 ranked companies

#	Company	Last round · Key metrics	Estimated valuation (AI, order of magnitude)	Confidence	Invest
1	BinanceUnited Arab Emirates · Middle East & North AfricaSources: 1 · 2 · 3 · 4Is this your company? Report an error	Minority stake · USD 2bn · Mar 2025323M registered users (Jul 2026) · $34T total product trading volume (FY2025) · Revenue: n/d	Last known equity round: Minority stake · USD 2bn · Mar 2025 (MGX (Abu Dhabi)) No confirmed published valuation Confidence index: MediumMethod	Partial sources	Declare an intent
2	OKXSingapore · Asia-PacificSources: 1 · 2Is this your company? Report an error	Strategic investment · ~USD 200M (reported) · Mar 2026120M+ registered users · Trading volume: n/d · Revenue: n/d · 2026	Last known equity round: Strategic investment · ~USD 200M (reported) · Mar 2026 (Intercontinental Exchange (ICE)) Published valuation: USD 25bn (Mar 2026) Confidence index: HighMethod	Solid sources	Declare an intent
3	Crypto.comSingapore · Asia-PacificSources: 1 · 2 · 3Is this your company? Report an error	Strategic investment · USD 400M · Jul 2026100M+ users · Trading volume: n/d · Revenue: n/d · May 2024	Last known equity round: Strategic investment · USD 400M · Jul 2026 (Citadel Securities) Published valuation: USD 20bn (Jul 2026) Confidence index: HighMethod	Solid sources	Declare an intent
4	KrakenUnited States · North AmericaSources: 1 · 2Is this your company? Report an error	Equity round · USD 800M · Nov 20255.7M funded accounts · $2.0T platform volume · Revenue $2.2B (adj.), adj. EBITDA $531M · FY2025	Last known equity round: Equity round · USD 800M · Nov 2025 (incl. Citadel Securities (USD 200M)) Published valuation: USD 20bn (Nov 2025) Confidence index: HighMethod	Solid sources	Declare an intent
5	Dunamu (Upbit)South Korea · Asia-PacificSources: 1 · 2 · 3Is this your company? Report an error	Share-swap agreement (pending) · all-stock · Nov 2025Users: n/d · Trading volume: n/d · Revenue KRW 1.56T (~$1.03B), operating profit KRW 869B · FY2025	Last known equity round: Share-swap agreement (pending) · all-stock · Nov 2025 (Naver Financial) Published valuation: USD 10.3bn (Nov 2025) Confidence index: HighMethod	Solid sources	Declare an intent
6	BitgetSingapore · Asia-PacificSources: 1 · 2Is this your company? Report an error	Strategic investment · USD 10M · Apr 2023Key metrics not disclosed	Last known equity round: Strategic investment · USD 10M · Apr 2023 (Dragonfly) No confirmed published valuation Confidence index: LowMethod	Weak sources	Declare an intent
7	BitpandaAustria · EuropeSources: 1 · 2 · 3Is this your company? Report an error	Series C · USD 263M · Aug 20217M+ users (Jan 2026) · Trading volume: n/d · Revenue $161.8M (FY2023)	Last known equity round: Series C · USD 263M · Aug 2021 (Valar Ventures (Peter Thiel)) Published valuation: USD 4.1bn (Aug 2021) Confidence index: MediumMethod	Partial sources	Declare an intent
8	KuCoinSingapore · Asia-PacificSources: 1 · 2Is this your company? Report an error	Series B · USD 150M · May 2022Key metrics not disclosed	Last known equity round: Series B · USD 150M · May 2022 (Jump Crypto, Circle Ventures, IDG Capital, Matrix Partners) Published valuation: USD 10bn (May 2022) Confidence index: LowMethod	Weak sources	Declare an intent
9	Blockchain.comUnited Kingdom · EuropeSources: 1Is this your company? Report an error	Series E · USD 110M · Nov 2023~39M verified wallets · Trading volume: n/d · Revenue: n/d · Nov 2025	Last known equity round: Series E · USD 110M · Nov 2023 (undisclosed) No confirmed published valuation Confidence index: LowMethod	Weak sources	Declare an intent
10	CoinDCXIndia · Asia-PacificSources: 1 · 2Is this your company? Report an error	Strategic investment · undisclosed · Oct 202514M+ users · Trading volume: n/d · Revenue: n/d · Oct 2025	Last known equity round: Strategic investment · undisclosed · Oct 2025 (Coinbase) Published valuation: USD 2.5bn (Oct 2025) Confidence index: HighMethod	Solid sources	Declare an intent
11	BitsoMexico · Latin AmericaSources: 1Is this your company? Report an error	Series C · USD 250M · May 2021Key metrics not disclosed	Last known equity round: Series C · USD 250M · May 2021 (Tiger Global, Coatue) Published valuation: USD 2.2bn (May 2021) Confidence index: MediumMethod	Partial sources	Declare an intent

Ranking in descending order of AI-estimated valuation, based on public information, following a published method, with no human intervention on the order. Valuation ranges are indicative editorial estimates: neither a financial valuation, nor an offer, nor investment advice. Only the market sets a company’s value, through a funding round or a sale. Edition 0: produced by Claude (Anthropic); a consensus of several AI models will apply in a future edition. Eligibility: at least $1M raised including one equity round, non-listed company, main activity in this segment (centralized crypto-asset trading). Country shown is the country of main operations. Request a correction

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How to read this ranking

Rank

Companies are ranked by AI-estimated valuation, highest first. The market sets the value; our AI estimates it.

Range

An order of magnitude, never a figure.

Hundreds of k$
Millions $
Tens of M$
Hundreds of M$
Unicorn
Decacorn

Confidence

High: recent published valuation or round (under 24 months).
Medium: older data.
Low: single or unconfirmed source.

Full method →

Invest in crypto exchanges, together

Uback aggregates investment intentions from business angels, family offices, corporates and sector specialists worldwide. Every ranked company already has professional investors on its cap table, who have negotiated a shareholders’ agreement: you don’t start from a blank page.

Strength in numbers

Alone, a small ticket opens no doors. Together, Backers carry weight.

Declare an intention

On a company or a sector, with a ticket range. Paid, to show you are serious; transferable as long as it has not been converted.

Critical mass is reached

When the number of Backers and the total of their intentions cross a threshold, the licensed partner contacts the company and presents this demand.

The licensed partner structures

If the company’s expectations and the Backers’ converge, the partner builds a transaction and presents it directly to the Backers concerned.

Closing

Capital raise or sale of existing shares: small tickets are pooled in a common vehicle set up by the licensed partner. Each Backer decides whether to take part.

Uback does not advise, does not negotiate, collects nothing. Each transaction is run by the licensed partner of the company’s country, under the law that governs its shares.

Get notified when intentions open What happens after my declaration? Intention declarations open once the licensed partner signs · price per ticket band · valid 12 months · transferable credit

Challengers

A registered company raising funds that is not in the ranking will be able, for a fee, to appear in a separate list labelled “Challengers”, for a set period, with a memo available to verified Backers. The listing has no effect on the ranking. Not open yet.

Sponsored space · no Challenger listed yet

Radar · known eligible companies, not ranked

Sorted by date of last round, with no judgement and no AI call.

Backpack · United Arab Emirates · Middle East & North AfricaFeb 2024 · USD 17M
VALR · South Africa · Sub-Saharan AfricaJun 2022 · USD 50M
Rain · Bahrain · Middle East & North AfricaNov 2021 · USD 110M
CoinSwitch · India · Asia-PacificOct 2021 · USD 260M
Mercado Bitcoin (MB) · Brazil · Latin AmericaJul 2021 · USD 200M; SoftBank, via parent 2TM

Listed benchmarks

Not ranked: no intention is possible on a listed company.

Coinbase · United StatesNasdaq · COIN
Gemini · United StatesNasdaq · GEMI
Bullish · United StatesNYSE · BLSH
eToro · IsraelNasdaq · ETOR
OSL Group · Hong KongHKEX · 0863

Sources and method for this segment

Calendar. Global segment rankings are published twice a year. Next edition: January 1, 2027.

Eligibility. At least $1M raised including one equity round, non-listed company, main activity in this segment (centralized crypto-asset trading). A company appears in one segment only.

Sources. Fortune, CoinDesk, The Block, Blockworks, Forbes, Korea Herald, Finance Magnates, FinTech Futures, Architect Partners, company announcements.

Method and rules, common to all rankings →