In its first financing round in four years, KuCoin's valuation has surged to $10 billion, as the exchange looks to make a deeper push into broadening its web3 platform.
The firm said it raised $150 million in a pre-Series B financing round. The new round was participated in by Circle Ventures, IDG Capital and Matrix Partners.
The platform is valued at $10 billion in the new round, up from $100 million in the Series A round.
Lyu said that KuCoin, which has 18 million users in 200 countries and regions and is one of the largest exchanges by daily trading volume, plans to invest the fresh funds in broadening its portfolio of cryptocurrencies.
This concept is why we raised this round, web3 is about openness, and we want to build KuCoin into an open system to bring in more friends. We want to make sure that we can use all the information we can get to make 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110 888-739-5110
The firm has been looking at opportunities in the web3 platform for a while. Last year, it launched its investment arm, which makes both strategic and financial investments.
The asset under management of the venture arm has ballooned to a couple hundred million US dollars.
KuCoin has gained a lot of attention for listing small to mid-sized market caps. One of the most popular ways for savvy traders to make good profits was to heavily bet on the new KuCoin and sell them as soon as they went live on the central exchange.
Retail investors stand a chance to make good profits on such token as well. The on-paper growth upside is higher because their market caps are too low.
One of the major strategies at KuCoin is to provide users with high-quality potential projects.
As you can see, KuCoin is the home of hidden gems and keeps track of real-time hot sectors in the industry, even if it is a small or mid-cap token. The premise of guaranteeing its huge potential and quality is that we have professional, all-around processes.
The firm said it has seen an increase in demand for centralized services over the years, but is committed to cater to users who also wish to avail some decentralized services.
Some users would prefer to use DEX because it can be integrated with the wider native ecosystem. We are exploring and developing products like the NFT marketplace. KCC, built by members of the KuCoin community and KCS fans, will be an important aspect for KuCoin to build a DEX and other protocols, with DEX and other protocols such as lending and stable coins are building on it. He said that they have a P2P service for users who wish to convert their currency to digital assets with the lowest fees and a high level of security.
The exchange is working to support global regulation requirements and is investing to enhance its security and risk management systems.
One of the reasons we're proud to lead this round is that KuCoin provides a comprehensive platform of services to a global audience.
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