KuCoin, a Seychelles-based cryptocurrency exchange, has restructured its company, forming a group company to oversee its various business extensions.
Announced on Tuesday, the crypto company has formed KuGroup under which three business extensions – KuCoin Global, KuCloud, and the KuChain – will operate.
The company has appointed Michael Gan, the chief executive of the crypto exchange, as the chairman of the newly formed group company while Johnny Lyu, co-founder of KuCoin, took over the position of CEO at KuGroup.
Focusing on building a crypto ecosystem
Gan will oversee the global strategy of KuCoin Global and put more effort into exploring the boundaries of blockchain technology with KuChain, a Public Chain powered by KuCoin, the announcement detailed. He will also be responsible for integrating the group’s businesses with the KCS ecosystem.
Lyu, on the other hand, will mainly be responsible for the day-to-day operations of KuCoin, KuMEX, Pool-X, as well as the expansion and prosperity of the KCS ecosystem.
“As a growing number of countries such as India, Korea, and France open its door to blockchain and crypto, the mass adoption will be inevitable and KuChain as well as its ecosystem will largely contribute to this trend,” Gan said.
Founded in 2017, KuCoin has established itself as a major player in the crypto and is now expanding its services. Its services now range from white label solution to a derivatives exchange.
“KuCoin has proved its value in the crypto space by offering easy-to-use, secured and efficient financial services to users internationally,” Lyu added.
“Over 65 billion transaction volume has been handled so far and we will continue our journey to make KuCoin the best place to trade. Please stay tuned for more updates regarding KuCoin, KuMEX, Pool-X, KCS, and KuChain that will be announced in the next few weeks.”