KuCoin, one of the world’s leading cryptocurrency exchanges, announced that it has received a strategic investment from Susquehanna International Group (SIG). In addition to the approximately $10 million investment, the two parties will also collaborate in the incubation of blockchain startups, building the KuCoin Token and KuCoin Community Chain ecosystem.
Global cryptocurrency exchange KuCoin has received a $10 million investment from Susquehanna International Group (SIG), a global quantitative investment firm. KuCoin will use the funds from the investment to strengthen the platform infrastructure and enrich its product range.
Continuing its work to prepare for the bull market expected to be experienced in the crypto money market, the stock market will expand its global activities with capital increase and will continue to implement its hiring plans. KuCoin will hire 300 more people, despite the current volatility in the cryptocurrency market.
The cooperation between KuCoin and SIG will not be limited to investment. Investment and consultancy support will also be given to promising crypto startups, especially projects built on Community Chain.
“We are very happy to have found a stakeholder with whom we share the same vision and values”
Sharing his views on the investment KuCoin CEO Johnny Lyu“KuCoin has successfully weathered several different crypto market cycles so far. We are determined to continue to develop KuCoin no matter what happens in the future. We are very happy to have found a stakeholder on this path with whom we share the same vision and values. SIG’s support will further solidify our leadership role at the center of change. Of course, it will also facilitate our expansion into the world of decentralized finance and Web 3.0.”
“We believe the cooperation will create synergy between SIG and KuCoin”
Regarding the investment, the SIG Investment Committee said, “This partnership is an important step for SIG as it strives to partner with the best players in every field. KuCoin is one of the fastest growing cryptocurrency exchanges with an agile growth strategy and visionary team. In this context, we believe that our cooperation will create synergy between SIG and KuCoin and benefit by bringing the crypto industry to a wider audience.”
KuCoin continues to grow with the investments it receives
Founded in 2017, KuCoin is among the top 5 crypto exchanges with over 20 million users worldwide. Known as one of the exchanges where the most altcoins are listed, the platform supports more than 700 cryptocurrencies and more than 1,200 trading pairs.
According to the 2022 First Half Year Report, KuCoin, which has achieved a transaction volume of over $ 2 trillion, has increased by 180 percent in this area compared to the same period of 2021.
The exchange raised $150 million in investments led by Jump Crypto in a Series B preliminary round in May 2022. Thus, it raised a total investment of 170 million dollars with its A Round investments and increased its valuation to 10 billion dollars.
About SIG
SIG is a global quantitative investment firm founded with an entrepreneurial mindset and a rigorous analytical approach to decision making. It is an institution that specializes in trading all existing financial instruments and asset classes, with a focus on derivatives. It trades millions of dollars every day on many exchanges around the world. SIG also plays a critical role in financial markets by providing liquidity and competitive prices for buyers and sellers.
For more information: https://sig.com
About KuCoin
Founded in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-centric platform focused on inclusiveness and community action access, it offers more than 700 digital assets and currently has 20 million users in 207 countries, including spot trading, margin trading, P2P fiat trading, futures trading. It provides products and services such as trading, free automated trading bot, social investment platform, lending service, and staking.
In 2022, the exchange raised over $150 million in a pre-Series B round. It increased its total investments to 170 million dollars with the A Round and reached a total valuation of 10 billion dollars. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. Forbes also named KuCoin as one of the Best Crypto Exchanges in 2021. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts. For more information, visit https://www.kucoin.com/en.
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