The crypto exchange, KuCoin has raised $150 million in a pre-series B Funding round, valuing the company at $10 billion.
The round was led by Jump Crypto and also saw participation from Circle Ventures, IDG Capital, and Matrix Partners.
“The vote of confidence from prominent investors, including Jump Crypto and Circle Ventures, solidifies our vision that one day everyone will be with crypto,” said Johnny Lyu, CEO of KuCoin.
“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 crypto space.”
With the influx of cash, the platform intends to build the next generation of KuCoin core trading system and support KuCoin’s global regulation efforts.
The company also plans to enhance their risk and security management systems.
“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,” said Tak Fujishima, Head of Asia of Jump Crypto.
Along with all these modifications, KuCoin will expand in the Web3 space including crypto wallets, GameFi, DeFi and NFT platforms via their subsidiaries KuCoin Labs and KuCoin Ventures.
Read Also: KuCoin Launches $100M ‘Creator Fund’ for NFT Creators & Web3
A public chain built by KuCoin’s community members, KCC will also see an influx of resources for the creation of a decentralised ecosystem.
