KuCoin, a global leading crypto exchange, has raised $150 million in a 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 centralized trading services and expand its presence in Web 3.0, including crypto wallets, GameFi, DeFi, and NFT platforms through investment arms like KuCoin Labs and KuCoin Ventures. KCC, the public chain built by community members, will also be a significant infrastructure where resources will be deployed to create a decentralized ecosystem.
Johnny Lyu, CEO of KuCoin, states: “The vote of confidence from prominent investors, including Jump Crypto and Circle Ventures, solidifies our vision that one day everyone will be with crypto. The exchange platform is built for all classes of investors, and we believe these new investors and partners will contribute to making KuCoin synonymous with a reliable and trustworthy gateway into crypto space.”
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Tak Fujishima, Head of Asia, Jump Crypto, said: “KuCoin provides a comprehensive platform of crypto services to a global audience, which is one of the many reasons we’re 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 the crypto markets.”
The 4-year-old exchange with its operational headquarter in Seychelles has been on a steady rise since its inception, going from being the 49th largest exchange in 2018 to now being the 5th largest exchange based on trade volume, according to CoinMarketCap. It has also amassed 18 million users in over 200 countries and regions. In November of 2018, the cryptocurrency exchange platform secured $20 million in Round A funding.
Growing from being just an exchange platform, KuCoin has also expanded into 2 financial investment arms called KuCoin Labs and KuCoin Ventures.
Launched in September 2017, it is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets, and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 18 million users in 207 countries and regions.
To find out more, visit the website.