KuCoin became one of the most valuable crypto companies in the world recently after its pre-Series B funding round of $150 million. The crypto trading platform is now valued at $10 billion.
The round, which was led by Jump Crypto, saw participation from Circle Ventures, IDG Capital and Matrix Partners. KuCoin noted that it is planning to use the funding to build the next generation of the KuCoin core trading system.
Moreover, the crypto firm is planning to expand its global regulation efforts to facilitate clients across different regions through a secure regulatory environment. KuCoin aims to enhance its security and risk management systems.
"The vote of confidence from prominent investors, including Jump Crypto and Circle Ventures, solidifies our vision that one day everyone will be with crypto. KuCoin 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 the crypto space,” Johnny Lyu, the CEO of KuCoin, commented.
In April 2022, KuCoin introduced a $100 million fund to support emerging NFT projects. Additionally, the crypto trading platform announced plans to expand its presence in the NFT space.
Crypto Funding
Global crypto companies raised record funding in 2021 and the trend has continued this year. Earlier this year, FTX US secured $400 million in funding and topped the valuation of $8 billion. In April 2022, Binance.US raised $200 million in one of the most valuable seed funding rounds in the history of the crypto ecosystem.
“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,” Tak Fujishima, the Head of Asia at Jump Crypto, commented.
