Crypto News: KuCoin Cryptocurrency Exchange Raises $20 Million In Series A Funding

KuCoin Crypto Exchange Raises $20 Million Funding

Latest Cryptocurrency News : KuCoin Cryptocurrency Exchange, announced that the platform managed to raise $20 million from a recent Series A funding round led by IDG Capital, Matrix Partners, and Neo Global Capital (NGC). In a twist of events, the cryptocurrency exchange platform also suggests that the aforementioned firms have formed partnerships with KuCoin to aid them to evolve better cryptocurrency adoption.

The announcement was made yesterday i.e, on Wednesday.

The new funding will keenly be focused upon reinforcing KuCoin’s services by launching a project dubbed as Platform 2.0 within the first quarter of 2019. The platform is posed as “more than a single exchange,” and will be a place for “dynamic, secure, and malleable trading,” which in turn give KuCoin better scalability and enable it to create additional features for consumers.

In doing so, the platform will further be allowing KuCoin to add locations in other countries while creating opportunities for additional staff to be added to the team. KuCoin’s list seems to be focused on Turkey, Italy, Vietnam, Russia, and any Spanish-speaking country before the year is over.

The assistance provided by this new partnership will set the path for KuCoin towards becoming a global brand for blockchain technology.  CEO Michael Gan stated:

“I believe one day everything will function with blockchain technology. And with our newly formed partnerships, we will build on today’s momentum and fulfill this vision.”

As of now, the network has five million registered users.

Bitcoin Exchange Coinbase Now Valued At $8 Billion, Closes Series E Funding of$300 Million


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