KuCoin Exchange Raises $20M in Series A Funding to Bring ‘Crypto to the Masses’
In an annoucement on Wednesday, KuCoin spoke about a recent Series A funding round that managed to raise $20 million for the platform. The biggest contributors were IDG Capital, Matrix Partners, and Neo Global Capital. However, KuCoin said that these firms went even further, opting to form partnerships with KuCoin to help them usher in better cryptocurrency adoption.
With this new funding, the first item on the agenda is to reinvigorate the services that KuCoin offers, launching a project called Platform 2.0 sometime in the first quarter of 2019. The endeavor is planned as “more than a single exchange,” adding that it will be a place for “dynamic, secure, and malleable trading,” giving KuCoin the space for scalability and to create additional features for consumers.
The new platform creates an opportunity for additional staff to be added to the KuCoin team, while adding locations in other countries as well. On their list, KuCoin seems to be focused on Turkey, Italy, Vietnam, Russia, and any Spanish-speaking country before the year is over.
With the assistance of the new partners, the exchange is working towards becoming a global brand for blockchain technology. Presently, there are five million registered users, giving them a promising start. CEO Michael Gan commented,
“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.”