Crypto exchange platform, KuCoin has secured $10 million from Susquehanna International Group (SIG), one of the largest quantitative trading firms. Besides the funding, the two will team up in blockchain startup incubation and KCS & KCC ecosystem building.
SIG is a global quantitative trading firm founded with an entrepreneurial mindset and a rigorous analytical approach to decision-making. As one of the largest proprietary trading firms in the world, it is an expert in trading essentially all listed financial products and asset classes, with a focus on derivatives, and handles millions of transactions on exchanges worldwide every day.
Since its launch in 2017, KuCoin has evolved to become one of the top 5 crypto exchanges with over 20 million users globally. It will deploy the funds into enhancing platform infrastructure and boost the product lineup, preparing for the next bull run. The capital will also support KuCoin’s global expansion and hiring plan. In addition, KuCoin and SIG will jointly support promising crypto startups through incubation, investment, and consultation, especially the projects built on the KCC chain.
Johnny Lyu, the CEO of KuCoin, stated: “KuCoin has been through a few crypto cycles, and we are committed to building no matter what. 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.”
“This partnership is an important step for SIG that illustrates our strive to partner with the best players in every field. KuCoin is one of the fastest-growing crypto stars with an agile growth strategy and a forward-looking team. We believe this cooperation will create a synergy between SIG and KuCoin, benefiting the crypto industry by bringing it to a wider audience,” commented by SIG investment team.
KuCoin in April launched a $100 million “Creators Fund” to empower the development of the NFT Metaverse ecosystem. 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.
