KuCoin, a leading global cryptocurrency exchange, announced a $150 million pre-Series B funding round, bringing its valuation to $10 billion. The round, led by Jump Crypto, saw the participation of multiple investment funds, including Circle Ventures, IDG Capital, and Matrix Partners.
The new influx of capital will allow KuCoin to go beyond one-stop trading services and expand its Web 3.0 presence. This includes your wallets crypto, GameFi, DeFi and NFT platforms through investment arms like KuCoin Labs and KuCoin Ventures. KCC, the public chain built by members of the KuCoin community, will also be an important infrastructure where resources will be deployed to create a decentralized ecosystem.
KuCoin says hello to Web 3.0 with its funding round
KuCoin also plans to take advantage of the Series B pre-round to:
- Build the next generation of the KuCoin core trading system, which will result in a tenfold performance improvement.
- Support KuCoin’s global regulation efforts to better serve 18 million users in more than 200 countries and regions.
- Improve security systems and risk management to make the platform more secure and accessible.
«The vote of confidence from prominent investors, including Jump Crypto and Circle Ventures, solidifies our vision that one day everyone will be in crypto. KuCoin is designed for all classes of investors, and we believe that these new investors and partners will help make KuCoin synonymous with a safe and reliable gateway to the crypto space.«.
Johnny Lyu, CEO of KuCoin.
“KuCoin provides a comprehensive platform of crypto services to a global audience, which is one of the many reasons we are proud to lead this round. We are pleased to support the company as it continues to grow and expand its offerings in futures and margin trading, lending, staking, and passive yield generation to support the growth of Web 3.0 and crypto markets.”.
Tak Fujishima, Asia Head of Jump Crypto.
According to CoinMarketCap, KuCoin is the fifth largest cryptocurrency exchange in the market. In November 2018, KuCoin secured $20 million in Round A funding.
About KuCoin
Released in September 2017, KuCoin is a global cryptocurrency exchange for over 700 digital assets. It currently offers spot, margin, futures, staking, P2P fiat trading, and lending to its 18 million users in 207 countries and regions around the world.
According to CoinMarketCap, KuCoin is currently one of the top 5 cryptocurrency exchanges. Additionally, Forbes named KuCoin one of the best crypto exchanges for 2021. In 2022, The Ascent also named KuCoin one of the best crypto exchanges and apps for enthusiasts.
For more information about the KuCoin exchange, visit https://www.kucoin.com.
Disclaimer: The content and links provided in this article are for informational purposes only. CriptoNoticias does not offer legal, financial or investment recommendations or advice, nor does it replace the due diligence of each interested party. CriptoNoticias does not endorse any investment offer or the like promoted here. click here for more information.