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KuCoin Raises $10 Million from TikTok Investor SIG, Further Explores Global Expansion and Infrastructure Upgrade

Thu, 07/21/2022 - 20:03
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Vladislav Sopov
Leading cryptocurrency ecosystem KuCoin receives investments from Susquehanna International Group amid major adoption accomplishments
KuCoin Raises $10 Million from TikTok Investor SIG,  Further Explores Global Expansion and Infrastructure Upgrade
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 In 2022, KuCoin smashed through a number of major adoption milestones; its user base jumped by over 100% in the last seven months and surpassed 20 million registered users. In July 2022, it also received eight-digit investments from a top-tier quantitative trading firm.

KuCoin secures $10 million in funding from SIG

According to the official announcement shared by the KuCoin team, it has entered into a long-term strategic collaboration with Susquehanna International Group (SIG), one of the largest quantitative trading firms.

KuCoin received $10,000,000 in strategic investments from SIG. Besides that, the two teams will collaborate on supporting early-stage startups and KCS/KCC ecosystem building.

With this funding received, KuCoin is going to see a huge boost in liquidity, release new  products and offer new services in Asia,Europe and other promising regions. Besides that, the KuCoin team has massive hiring plans despite the “Crypto Winter” gaining steam.

Susquehanna International Group, or SIG, is one of the most influential quantitative teams globally as it is responsible for 20% of U.S. stock and options trading volumes.

SIG is also well known for its VC strategy; inter alia, it holds a 15% share in Chinese short video platform TikTok. In total, the firm manages over $80 billion in various assets.

Infrastructure upgrade, global expansion start-up incubation initiatives in the cards

The “People’s Exchange,” by May 2022 KuCoin had raised over $170 million in investments; it pushed its valuation over $10 billion, making KuCoin the latest fintech decacorn.

The new round is set to fuel the release of new features, including infrastructure additions and an upgraded lineup of available products. Also, KuCoin will support its start-up ecosystem with newly raised funds.

Largely, its incubation program will target promising early-stage crypto start-ups interested in building on KuCoin Community Chain (KCC), its community-driven EVM-compatible smart contracts platform.

KuCoin User Count Surpasses 20 Million, Futures Global Team Battle Kicks Off

As covered by U.Today, KuCoin surpassed 20 million in the registered user count and $3 trillion in cumulative trading volume. In 2022, its peak daily trading volume exceeded $23 billion in futures and $11 billion in spot modules, respectively.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)