VICTORIA, Seychelles--(BUSINESS WIRE)--On July 21, 2022, KuCoin, a global leading crypto exchange, announced that it had secured a strategic investment from Susquehanna International Group (SIG), one of the largest quantitative trading firms. Apart from around a 10-million US dollar investment, the two parties will collaborate in blockchain startup incubation and KCS & KCC ecosystem building.
SIG is a global quantitative trading firm founded with an entrepreneurial mindset and a rigorous analytical approach to decision-making. As one of the largest proprietary trading firms in the world, it is an expert in trading essentially all listed financial products and asset classes, with a focus on derivatives, and handles millions of transactions on exchanges worldwide every day.
Established in 2017, KuCoin has developed into a top 5 crypto exchange with over 20 million users globally. Known as the home of altcoins, the platform has supported over 700 tokens and 1,200 trading pairs. According to its 2022 H1 Review Report, KuCoin has achieved over $2 trillion in trading volume, a 180% increase compared to the same period in 2021.
KuCoin will use the funds to upgrade platform infrastructure and enrich the product lineup, preparing for the next bull run. The capital will also support KuCoin’s global expansion and hiring plan. Despite the current crypto winter, KuCoin still has 300 job openings to be filled. In addition, KuCoin and SIG will jointly support promising crypto startups through incubation, investment, and consultation, especially the projects built on the KCC chain.
Johnny Lyu, the CEO of KuCoin, stated: “KuCoin has been through a few crypto cycles, and we are committed to building no matter what. We are delighted to announce that we have found another partner with the same vision and values. The support of SIG will solidify our leading role as a centralized exchange and facilitate our ecosystem expansion in the decentralized Web 3.0 world.”
In May 2022, KuCoin raised $150 million led by Jump Crypto through a pre-Series B round, bringing its total investments to $170 million with Round A combined, at a total valuation of $10 billion.
About SIG
SIG is a global quantitative trading firm founded with an entrepreneurial mindset and a rigorous analytical approach to decision-making.
As one of the largest proprietary trading firms in the world, we trade our own capital at our own risk. We are experts in trading essentially all listed financial products and asset classes, with a focus on derivatives, and handle millions of transactions on exchanges around the world every day. While our presence in the market is broad, our trading desks are highly specialized, allowing for a deep understanding of the unique drivers of each product. By providing liquidity and ensuring competitive prices for buyers and sellers, SIG plays a critical role in the financial markets.
To find out more, visit: https://sig.com/.
About KuCoin
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform focused on inclusiveness and community action reach, it offers over 700 digital assets. Currently, it provides Spot trading, Margin trading, P2P fiat trading, Futures trading, staking, and lending to its 20 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investments through a pre-Series B Round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges, according to CoinMarketCap. In 2021 Forbes named KuCoin one of the Best Crypto Exchanges. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.
To find out more, visit https://www.kucoin.com.
