Crypto exchange KuCoin raised $ 20 million and plans to expand in Russia
Singapore-based cryptocurrency exchange KuCoin raised $ 20M in Series A fundraising with the support of IDG Capital, Matrix Partners and Neo Global Capital. Writes about this CoinDesk.
According to the announcement of the exchange, the three above-mentioned companies not only invested in it, but also became its partners in order to “bring cryptocurrencies to the masses”.
KuCoin intends to use the funds received to rework its own platform and launch its second version, which may take place in the first quarter of next year. The company promises that it will become “something more than just one exchange”, and become a “dynamic, secure and flexible” trading platform, which in turn will allow it to scale and implement new functionality..
In addition, the company intends to improve its own support service and expand in several jurisdictions, in particular in Vietnam, Turkey, Italy, Russia and all Spanish-speaking countries, during the fourth quarter of this year..
Backed by IDG, Matrix and Neo Global, the exchange plans to become a global brand in the blockchain industry, she said, adding that it currently has 5 million users..
“I believe that in the future, everything will rely on blockchain technology. Through our new partnerships, we will strengthen our own strengths and deliver on our vision, ”said Michael Gahn, CEO of KuCoin..
In May this year, it became known that KuCoin will introduce forced user verification.
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