Kucoin Raises $10m In Strategic Investment From SIG

Cryptocurrency exchange KuCoin has raised $10 million in strategic investment from U.S. trading company Susquehanna International Group (SIG).

KuCoin is using the raised funds to prepare for the bull market by upgrading the platform infrastructure, expanding the product line, and continuing to hire employees. The company currently has 300 open vacancies.

The crypto exchange plans to introduce new services in Asia, Europe, and other regions.

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

“We have gone through several crypto cycles and are committed to evolving no matter what. We are happy to announce that we have found another partner with the same vision and values. SIG’s support will strengthen KuCoin’s leading role as a centralized exchange and facilitate the expansion of our ecosystem in the decentralized Web 3.0 world,” commented the head of the marketplace.

The partners will also create a blockchain incubator and develop the ecosystem around KuCoin Token (KCS) and the KuCoin Community Chain (KCC) blockchain.

SIG is confident that cooperation with KuCoin will be beneficial for the entire crypto industry:

“This will create synergy between SIG and KuCoin. We believe that our work will benefit the entire crypto industry and make it available to a wider audience,” the investment department of SIG noted.