Crypto exchange KuCoin secures $10m funding from SIG

Global crypto exchange KuCoin has raised US$10 million from Susquehanna International Group (SIG).

KuCoin co-founder Johnny Liu / Photo credit: KuCoin

In a statement, KuCoin said that it will collaborate with SIG in incubating blockchain startups and building an ecosystem for KuCoin Shares and the KuCoin Community Chain – a public blockchain developed by the crypto exchange’s community.

Established in 2017 by Michael Gan, Johnny Lyu, and five other founders, the Seychelles-headquartered firm currently has more than 20 million users across the world. It supports over 700 tokens and 1,200 trading pairs.

In the first half of the year, KuCoin hit US$2 trillion in trading volume, an almost 3x growth from the same period in 2021.

It plans to use the fresh funding to upgrade its tech infrastructure, develop products, expand to more markets, and hire employees.

In May, KuCoin raised US$150 million in a pre-series B funding round led by Jump Crypto, which pushed its valuation to US$10 billion.

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