The crypto exchange KuCoin raises $10 million from Susquehanna International Group for a strategic investment. The SIG is one of the largest quantitative trading firms in the world. Kucoin and Susquehanna International Group have partnered to incubate the blockchain startups, building KuCoin tokens and a KuCoin community chain ecosystem.
This partnership came into existence post the crash of a short video format app of Chingari’s Gari token. The KuCoin platform, which holds the highest number of tokens, commenced this token into existence. Moreover, KuCoin shall use its fresh capital to upgrade the platform’s infrastructure, expand and hire globally, and enhance its product lineup.
The platform is looking for freshers to fill 300 vacant job positions. KuCoin was founded in 2017. Since then, the platform has made room for itself among the top 5 crypto exchange platforms. There are over 20 million global users of this platform, 700 tokens, 1200 trading pairs and a few altcoins. Johnny Lyu, CEO of KuCoin, states that the platform is undergoing several crypto cycles, yet it promises to build for the best no matter what.
Further, he also says that the platform is delighted to introduce its new partnership with the same vision and beliefs. The support from Susquehanna International Group will help solidify the platform’s role as a centralized exchange. Also, it will help expand the ecosystem to the decentralized Web3 world. In a press release, the exchange claims that the platform raised $150 million from Jump Crypto through a pre-series B round at a valuation of total investments of $170 million. The total value is in combination with the Round A series worth $10 million.
Summary
- KuCoin and SIG entered a partnership where SIG raised $10 million for a strategic investment.
- KuCoin shall use this capital for upgrading and enhancing its features and product lineup.
- The platform is hiring employees for 300 new job posts.
- The exchange is looking forward to making space in the Web3 world with the support of SIG.
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