Global crypto exchange KuCoin has announced a $150 million Pre-Series B funding round, raising its valuation to $10 billion. The round, led by Jump Crypto, saw participation from several investment funds including Circle Ventures, IDG Capital and Matrix Partners.
The new round will help KuCoin go beyond centralized trading services and expand its presence in Web 3.0 including crypto wallets, GameFi, DeFi and non-fungible token (NFT) platforms through investment arms such as KuCoin Labs and KuCoin Ventures. Will get
KCC, the public chain created by members of KuCoin’s community, will also be a key infrastructure where resources will be deployed to create a decentralized ecosystem.
The funding will also help enhance security and risk management systems to make the platform more secure and accessible.
KuCoin CEO Johnny Liu said: “The vote of confidence from leading investors, including Jump Crypto and Circle Ventures, reinforces our vision that one day everyone will be with crypto. KuCoin is built for all classes of investors, and we We are confident that these new investors and partners will contribute to making KuCoin synonymous with a trusted and trusted gateway into the crypto space.”
According to CoinMarketCap, KuCoin is the fifth largest crypto exchange in the market. In November of 2018, KuCoin secured $20 million in Round A funding.
Tak Fujishima, Head of Jump Crypto, Asia, said: “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 support the company. We are pleased to do so as it continues to expand 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.”
Launched in September 2017, KuCoin is a global cryptocurrency exchange for over 700 digital assets. It currently offers spot trading, margin trading, P2P fiat trading, futures trading, staking and lending to its 18 million users in 207 countries and territories.