Global crypto exchange KuCoin has raised $10 million in a strategic investment from Susquehanna International Group (SIG), a prominent quantitative trading firm.
KuCoin and SIG will also collaborate in blockchain startup incubation. They will jointly support promising crypto startups through incubation, investment, and consultation, especially the projects built on the KuCoin Community Chain(KCC).
The funds will be used to upgrade platform infrastructure and enrich the product lineup. The capital will also support KuCoin’s global expansion and hiring plan. KuCoin has 300 job openings to be filled at present.
Johnny Lyu, the CEO of KuCoin, said,“We are delighted to announce that we have found another partner with the same vision and values. The support of SIG will solidify our leading role as a centralized exchange and facilitate our ecosystem expansion in the decentralized Web 3.0 world.”
KuCoin has developed into a top 5 crypto exchange with over 20 million users globally. According to its 2022 H1 Review Report, KuCoin has achieved over $2 trillion in trading volume, a 180 per cent increase compared to the same period in 2021, said the company.
In May 2022, KuCoin raised $150 million led by Jump Crypto through a pre-Series B round, bringing its total investments to $170 million with Round A combined, at a total valuation of $10 billion.
KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. It offers over 700 digital assets. Currently, it provides Spot trading, Margin trading, P2P fiat trading, futures trading, staking, and lending.