KuCoin Ventures,Offshore yuan pegged stablecoin CNHCProvided $10 million in funding.
News about the funding round March 16sharing on KuCoin Ventures, funding round IDG CapitalAnd USD Coins(USDC) issuer Circle Ventures He also stated that he participated. KuCoin Chief Investment Officer Justin Chou, told Cointelegraph CNHCnew investment in KuCoin Ventures He said it was his first investment in a stablecoin-related project. Chou further mentioned that it is likely to see more fiat-backed stablecoins in the near future.
Chou: This Investment Supports Our Web3 Strategy
ChouHe added that to ensure the stability of the financial market, stablecoin creators need to find a balance between over-collateralization and efficiency.
According to Chou KuCoin VenturesThis latest investment by . Web3reflects its strategy of supporting its infrastructure.
KuCoin Ventures, 2022China-based blockchain project earlier this year ConfluxHe had invested $10 million in
CHNC co-founder Joy Chamalso made some statements to Cointelegraph. CHNCStating that they launched the .
KuCoin CEO commenting on banking crises Johnny Lyuof KuCoin SVB, SilvergateAnd Signature Bank He said that he was not affected by the problems because he did not cooperate with the company. Lyu continued his words as follows: “However, the entire market USDCAnd USDT is somehow exposed to. The removal of crypto from traditional banking could have long-lasting effects on the industry.
