KuCoin raised US$10 million from quantitative trading firm Susquehanna International Group (SIG), the crypto exchange said on Friday.
See related article: How the crypto winter is laying groundwork for Web3 to reach its potential
Fast facts
KuCoin plans to use the funds to upgrade the platform’s infrastructure and improve product line-up, the company said.
KuCoin and SIG will jointly support crypto start-ups through incubation, investment and consultation, especially projects built on the KCC chain, a public blockchain being developed by the KuCoin community.
The capital will also be used to support KuCoin’s global expansion and plans to hire 300 people.
The support of SIG is expected to solidify KuCoin’s role as a centralized exchange and facilitate its expansion in the decentralized Web3.0 world, Johnny Lyu, the chief executive officer of KuCoin, said.
In May, KuCoin raised US$150 million led by Jump Crypto through a pre-series B round, valuing the firm at US$10 billion.
Trading...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...