Global cryptocurrency Austausch KuCoin has clocked a valuation of $10 billion in its latest funding round, the company announced in a statement on Tuesday.
The Seychelles-based firm has raised $150 million to invest further in the Web3 space. The exchange noted, “The new influx of capital will allow KuCoin to go beyond centralized trading services and expand its presence in Web 3.0, including crypto wallets, GameFi, Defi, and NFT platforms through investment arms like KuCoin Labs and KuCoin Ventures.”
The company also plans to allocate significant resources for the development of KCC, the public chain built by KuCoin’s community members.
The pre-Series B funding was reportedly led by Jump Crypto. Circle Ventures, IDG Capital and Matrix Partners.
Johnny Lyu, CEO of KuCoin, states: “The vote of confidence from prominent investors, including Jump Crypto and Circle Ventures, solidifies our vision that one day everyone will be with crypto. KuCoin is built for all classes of investors, and we believe these new investors and partners will contribute to making KuCoin synonymous with a reliable and trustworthy gateway into crypto space.”
Back in 2018, IDG Capital and Matrix Partners had investéiert $20 million in Series A funding, at a valuation of $100 million, TechCrunch had earlier reported.
Source: https://beincrypto.com/crypto-exchange-kucoin-hits-10b-valuation-following-latest-funding-round/