Leading global cryptocurrency exchange KuCoin has announced a $150 million Series B funding round, raising its valuation by $10 billion.
Jump Crypto-led round was attended by multiple mutual funds, including Circle Ventures, IDG Capital and Matrix Partners.
With the new capital flow, KuCoin will be able to go beyond centralized trading services. It will enable it to expand its presence in Web 3.0, including crypto wallets, GameFi, DeFi and NFT platforms through investment arms such as KuCoin Labs and KuCoin Ventures.
KuCoin’s public chain, KCC, created by community members, will also be an important infrastructure through which resources will be distributed to create a decentralized ecosystem.
KuCoin also plans to take advantage of the Series B round to:
• Build the next generation KuCoin core trading system with tenfold performance boost.
• Support KuCoin’s global regulatory efforts to better serve 18 million users in over 200 countries and regions.
• Enhance security and risk management systems to make the platform more secure and accessible.
KuCoin CEO Johnny Lyu said:
“The vote of confidence from leading investors including Jump Crypto and Circle Ventures solidifies our vision. KuCoin was built for all investors. New investors and partners will contribute to making KuCoin synonymous with a trusted gateway to the crypto space.”
Head of Jump Crypto Asia Tak Fujishima said:
“KuCoin provides a comprehensive platform of crypto services to a global audience and is one of the many reasons why we are proud to lead the tour. this too. 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 income generation to support the growth of the Web 3.0 and crypto markets.”
According to CoinMarketCap, KuCoin is the fifth largest crypto exchange in the market. In November 2018, KuCoin had received $20 million in Round A funding.
About KuCoin
Launched in September 2017, KuCoin is a global cryptocurrency exchange for over 700 digital assets. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking and Lending to 18 million users in 207 countries and territories worldwide.
According to CoinMarketCap, KuCoin is currently one of the top 5 crypto exchanges. Also, Forbes has named KuCoin as one of the Best Crypto Exchanges of 2021. In 2022, The Ascent named KuCoin as the Best Crypto Exchanges and Apps.
Visit https://www.kucoin.com to learn more.
