KuCoin Boosts Funds at $10 Billion Valuation

KuCoin’s valuation rose to $10 billion in its first round of funding. The global cryptocurrency exchange is trying to go deeper into expanding the web3 ecosystem. The Seychelles-based firm said it had raised $150 million in a previous round of Series B funding, Led by Jump Crypto. According to the CEO, the four-year platform is valued at $10 billion in the new round, From $100 million in November 2018 to $20 million in Serie A.

KuCoin has more than 18 million users in 200 countries and is one of the largest exchanges in the region in terms of daily SPOT trading volume. KuCoin plans to invest new funds in expanding its portfolio of cryptocurrencies, DeFi, NFT, GameFi platforms, and DAOs. A firm that competes with Coinbase, FTX, Binance, and Crypto.com has been exploring opportunities in the web3 ecosystem. Late last year, It launched its investment group KuCoin Ventures, Through which it makes both strategic and financial investments.

KuCoin has gained some popularity and recognition due to its list of small and medium-sized market cap tokens. One of the popular ways in which some savvy traders used to make good profits; Was betting on a new KuCoin that was going to list and sell them; As fast as their trade was live on the Central Exchange.

KuCoin and Crypto

Theoretically, especially during the bull cycle, retail investors have a good chance of making a profit on such tokens. Because their market capitalization is very low on Binance and Coinbase, the initial growth on paper is higher.

KuCoin keeps track of the hot sectors of the industry in real-time; In parallel, it profoundly explores potential projects in different sectors all the way, even if it is small or medium. The firm said the demand for centralized services has increased over the years; however, it is ready to provide customers who want to take advantage of decentralized services.

Some users prefer to use DEX as it can be directly integrated with the natural crypto ecosystem. The company researches and develops decentralized products, such as NFT Market – Windvane and KCC. The firm also has a P2P service for customers who want to convert Fiat currencies into digital assets with the lowest fees and the highest level of security. The Exchange is also working to strengthen its efforts to support global regulatory requirements; It also invests in strengthening security and risk management systems.

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