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HomeEthereumKuCoin Raises $150M in Pre-Collection B Funding at a $10B Valuation

KuCoin Raises $150M in Pre-Collection B Funding at a $10B Valuation


Fast take:

  • 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 increase past buying and selling and into Net 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 Net 3.0

In response to the workforce at KuCoin, the inflow of capital will probably be utilized by the alternate to ‘transcend centralized buying and selling companies and increase its presence in Net 3.0, together with crypto wallets, GameFi, DeFi, and NFT platforms.’

The enlargement will probably be achieved by means of its funding arms of KuCoin Labs and KuCoin Ventures. The KuCoin Chain (KCC) constructed by its neighborhood will even play a major 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 higher serve 18 million customers in over 200 nations and areas
  • Enhancing safety and threat administration methods to make KuCoin safer and accessible. This objective is especially vital 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 by means of the next assertion:

KuCoin offers a complete platform of crypto companies to a world viewers, which is without doubt one of the many causes we’re proud to steer this spherical.

We’re happy to help the corporate because it continues to develop and increase its choices in futures and margin buying and selling, lending, staking and passive yield technology to help the expansion of Net 3.0 and the crypto markets.

[Feature image courtesy of KuCoin.com]

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