KuCoin, a Victoria, Seychelles-based global crypto exchange, raised $150M in Pre-Series B funding.
The round was led by Jump Crypto, Circle Ventures, IDG Capital, and Matrix Partners.
The company intends to use the funds to expand beyond centralized trading services and grow its presence in Web 3.0, including crypto wallets, GameFi, DeFi, and NFT platforms through investment arms, like KuCoin Labs and KuCoin Ventures. KCC, the public chain built by KuCoin’s community members, will also be a significant infrastructure where resources will be deployed to create a decentralized ecosystem. The funds will be also used to:
- Build the next generation of KuCoin core trading system,
- Support KuCoin’s global regulation efforts
- Enhance security and risk management systems to make the platform more secure and accessible.
Led by CEO Johnny Lyu, KuCoin is a cryptocurrency exchange for over 700 digital assets. 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.