Crypto Exchange KuCoin Gets $10 Billion Valuation, Raises $150 Million

Global crypto exchange KuCoin has raised $150 million in a pre-Series B round at a valuation of $10 billion, according to the company. In November 2018, KuCoin raised a $20 million Series A.

KuCoin was launched in September 2017 and operates a digital asset marketplace trading 700 different crypto. 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.

The funding was led by Jump Crypto, with the participation of others including Circle Ventures, IDG Capital, and Matrix Partners.

KuCoin explains the the additional capital will enable it to “go beyond centralized trading services” and move into Web 3.0, including crypto wallets, GameFi, DeFi, and NFTs.

KCC is a public chain built by KuCoin’s community members and the company statees that it will be deployed to create a decentralized ecosystem.

Along with enhancing security and risk management, KuCoin says it will step up its efforts on compliance to serve 200 countrie and regions.

Johnny Lyu, CEO of KuCoin, called the funding a “vote of confidence” fomr investors:

“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.”

Investor Tak Fujishima, Head of Asia, Jump Crypto, stated:

“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.”

KuCoin is one of the largest crypto exchanges in the world – currently around the 5th largest. Lifetime trading volue is over $1 trillion in value. KuCoin is based in Seychelles, a jurisdiction of preference for digital asset platforms.


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