In addition to the approximately $10 million investment, the two parties will also collaborate in the incubation of blockchain startups, building the KuCoin Token and KuCoin Community Chain ecosystem.

Global cryptocurrency exchange KuCoin has received a $10 million investment from Susquehanna International Group (SIG), a global quantitative investment firm.

KuCoin will use the funds from the investment to strengthen the platform infrastructure and enrich its product range.

Continuing its work to prepare for the bull market expected to be experienced in the crypto money market, the stock market will expand its global activities with capital increase and continue to implement its hiring plans. KuCoin will hire 300 more people, despite the current volatility in the cryptocurrency market.

KuCoin Johnny Lyu

The cooperation between KuCoin and SIG will not be limited to investment. Investment and consultancy support will also be given to promising crypto startups, especially projects built on Community Chain.

Sharing his views on the investment, KuCoin CEO Johnny Lyu said:

   “KuCoin has successfully survived several different crypto market cycles so far. We are committed to continuing to develop KuCoin no matter what happens after that. We are delighted to find a stakeholder on this path with whom we share the same vision and values. "This will further solidify our leadership role. It will also facilitate our expansion into the world of decentralized finance and Web 3.0."

The SIG Investment Committee made the following statement regarding the investment.

   “This partnership is an important step for SIG as it strives to partner with the best players in every field. KuCoin is one of the fastest growing cryptocurrency exchanges with an agile growth strategy and visionary team. In this context, we believe that our cooperation will create a synergy between SIG and KuCoin. and we believe it will benefit by bringing the crypto industry to a wider audience.”

Founded in 2017, KuCoin is among the top 5 crypto exchanges with over 20 million users worldwide. Known as one of the exchanges where the most altcoins are listed, the platform supports more than 700 cryptocurrencies and more than 1,200 trading pairs.

According to the 2022 First Half Year Report, KuCoin, which has achieved a transaction volume of over $ 2 trillion, has increased by 180 percent in this area compared to the same period of 2021.

The exchange raised $150 million in investments led by Jump Crypto in a Series B preliminary round in May 2022. Thus, together with its A Round investments, it raised a total investment of 170 million dollars and increased its valuation to 10 billion dollars.