KuCoin Raises $150 Million to Grow Its Crypto Exchange Platform

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team
Published on May 10, 2022

Crypto is massive, and while there are many crypto exchanges out there, few are as successful as KuCoin. In fact, it is one of the top exchanges around, and it has just received another major round of funding. Now firmly established and with additional capital, the company plans to expand further into things like crypto wallets and NFT platforms. If you want to know more about the company and where it’s heading, make sure to keep reading.

KuCoin, a global leading crypto exchange, announced a $150 million pre-Series B funding round, bringing its valuation to $10 billion. The round, led by Jump Crypto, saw the participation of multiple investment funds, including Circle Ventures, IDG Capital, and Matrix Partners.

The new influx of capital will allow KuCoin to go beyond centralized trading services and expand its presence in Web 3.0, including crypto wallets, GameFi, DeFi, and NFT platforms through investment arms like KuCoin Labs and KuCoin Ventures. KCC, the public chain built by KuCoin’s community members, will also be a significant infrastructure where resources will be deployed to create a decentralized ecosystem.

KuCoin also plans to leverage the pre-Series B round to:

  • Build the next generation of KuCoin core trading system, resulting in tenfold performance improvement.
  • Support KuCoin’s global regulation efforts to better serve 18 million users in over 200 countries and regions.
  • Enhance security and risk management systems to make the platform more secure and accessible.

Johnny Lyu, CEO of KuCoin, states: “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 crypto space.”

Tak Fujishima, Head of Asia, Jump Crypto, said: “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.”

According to CoinMarketCap, KuCoin is the fifth largest crypto exchange on the market. In November of 2018, KuCoin secured $20 million in Round A funding.

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange for over 700 digital assets. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 18 million users in 207 countries and regions around the world. According to CoinMarketCap, KuCoin is currently one of the top 5 crypto exchanges. Also, Forbes named KuCoin as one of the Best Crypto Exchanges for 2021. In 2022, The Ascent named KuCoin the Best Crypto Exchanges and Apps for enthusiasts.

The original announcement can be found on KuCoin’s website.

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By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team

Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.

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