From Susquehanna International Group, the global cryptocurrency exchange KuCoin has raised $10 million (SIG).
KuCoin stated that it would work with SIG to foster blockchain entrepreneurs and create an ecosystem for KuCoin Shares and the KuCoin Community Chain, a public blockchain created by the cryptocurrency exchange community.
The Seychelles-based company, founded in 2017 by Michael Gan, Johnny Lyu, and five more founders, currently has more than 20 million users worldwide. It enables 1,200 trading pairings and more than 700 tokens.
A nearly 3-fold increase over the same period in 2021, KuCoin’s trade volume reached US $2 trillion in the first half of 2018.
With the additional investment, it intends to create new goods, grow into new areas, and recruit staff in addition to updating its technological infrastructure.
In a pre-series B investment round headed by Jump Crypto in May, KuCoin raised $150 million in the US, increasing its worth to US $10 billion.