KuCoin gets USD 150 mln in pre-Series B

Tuesday 10 May 2022 14:00 CET | News

Crypto exchange KuCoin has announced a USD 150 million pre-Series B funding round, bringing it to a value of USD 10 billion.

Jump Crypto led the round and investment funds such as Circle Ventures, IDG Capital, and Matrix Partners took part. The inflow of capital will allow the exchange to expand beyond centralized trading services and augment its presence in Web 3.0, including GameFi, crypto wallets, DeFi, and NFT platforms.

This will be possible through KuCoin Ventures and other investment arms. The KuCoin community built a public chain, KCC, on which resources will be deployed to create a decentralized ecosystem.

Among the uses of the new funds will be to build the next generation of the exchange’s core trading system. Performance is expected to improve tenfold thereafter. The funds will also support KuCoin’s global regulation efforts and improve security and risk management systems to make the platform more secure and accessible.

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Keywords: funding, cryptocurrency exchange, crypto, digital assets, DeFi
Categories: DeFi & Crypto & Web3
Companies: KuCoin
Countries: World
This article is part of category

DeFi & Crypto & Web3


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