- KuCoin has raised $150 million in a pre-series B funding spherical at a $10 billion valuation
- The funding spherical was led by Soar Crypto with extra participation by Circle Ventures, IDG Capital, and Matrix Companions
- KuCoin plans to develop past buying and selling and into Internet 3.0, together with crypto-wallets, GameFi, DeFi, and NFTs
The cryptocurrency buying and selling platform of KuCoin has introduced that it has raised $150 million in a pre-series B funding spherical at a $10 billion valuation. Soar Crypto led the funding spherical with extra participation by Circle Ventures, IDG Capital, and Matrix Companions.
KuCoin Plans to Enterprise into Internet 3.0
Based on the staff at KuCoin, the inflow of capital can be utilized by the alternate to ‘transcend centralized buying and selling companies and develop its presence in Internet 3.0, together with crypto wallets, GameFi, DeFi, and NFT platforms.’
The growth can be achieved via its funding arms of KuCoin Labs and KuCoin Ventures. The KuCoin Chain (KCC) constructed by its neighborhood will even play a big position as a part of the infrastructure for deploying a decentralized ecosystem.
KuCoin additionally intends to leverage the funds raised within the Pre-series spherical to realize the next:
- Creation and constructing of the subsequent technology KuCoin core buying and selling system specializing in ‘tenfold efficiency enchancment’
- Supporting KuCoin’s world efforts on regulation to raised serve 18 million customers in over 200 international locations and areas
- Enhancing safety and danger administration techniques to make KuCoin safer and accessible. This purpose is especially essential as KuCoin was a sufferer of a hacking incident again in 2020.
Tak Fujishima, Head of Asia, Soar Crypto, additional reiterated KuCoin’s imaginative and prescient via the next assertion:
KuCoin gives a complete platform of crypto companies to a worldwide viewers, which is among the many causes we’re proud to guide this spherical.
We’re happy to help the corporate because it continues to develop and develop its choices in futures and margin buying and selling, lending, staking and passive yield technology to help the expansion of Internet 3.0 and the crypto markets.
[Feature image courtesy of KuCoin.com]