KuCoin Secures $10 Million Strategic Investment From SIG

Cryptocurrency exchange KuCoin attracted $10 million in strategic investments from the American trading company Susquehanna International Group (SIG).

KuCoin will use the funds raised to prepare for a bull market: upgrade the platform infrastructure, expand its product line and continue hiring. The company currently has 300 open vacancies.

Crypto exchange plans to roll out new services in Asia, Europe and other regions.

KuCoin CEO Johnny Liu noted that SIG investment is part of joint efforts to support startups and promote new blockchain technologies with a focus on Web3 and decentralized ecosystems.

“We have weathered several crypto cycles and remain committed to growth. We are pleased to announce that we have found another partner with the same vision and values. SIG’s support will strengthen KuCoin’s leadership as a centralized exchange and facilitate the expansion of our ecosystem in the decentralized world of Web 3.0,” commented the head of the trading platform.

Partners will also establish a blockchain incubator and develop the ecosystem around KuCoin Token (КСS) and the KuCoin Community Chain (KCC) blockchain.

SIG is confident that the collaboration with KuCoin will benefit the broader crypto industry:

“This will create synergies between SIG and KuCoin. We believe our work will benefit the entire crypto industry and make it accessible to a broader audience,” said SIG’s investment arm.

As reported in May 2022, KuCoin raised $150 million in a pre-Series B round valued at $10 billion. The round was led by Jump Crypto. Other investors included Circle Ventures, IDG Capital and Matrix Partners.

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