Crypto exchange KuCoin valued at $10 billion in latest funding round


Representation of the cryptocurrency is seen in front of a Kucoin logo in this illustration taken February 9, 2021. REUTERS/Dado Ruvic/Illustration

Join now for FREE unlimited access to


May 9 (Reuters) – Cryptocurrency exchange KuCoin has raised $150 million in a Series B funding round led by Jump Crypto, the company said on Tuesday, giving it a valuation of $10 billion .

KuCoin, the fifth-largest crypto exchange according to data firm CoinMarketCap, has 10 million users in 207 countries. He plans to use the money to expand his presence in Web3, a utopian version of the World Wide Web that is decentralized and based on blockchain technology.

The Seychelles-based company offers trading service plans to use the funds to expand into crypto wallets, digital finance, non-fungible tokens as well as building its online community of crypto users.

Join now for FREE unlimited access to


The latest funding round includes investments from Circle Ventures, IDG Capital and Matric Partners.

Private investment in crypto companies has skyrocketed in 2022 despite a drop in bitcoin and other assets this year. Read more

Venture capital investment in such projects totaled $10 billion globally in the first quarter of 2022, the highest quarterly sum on record and more than double the level seen in the same period a year ago, according to Pitchbook data.

Join now for FREE unlimited access to


Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur

Our standards: The Thomson Reuters Trust Principles.


About Author

Comments are closed.