Susquehanna Invests $10 million in Crypto-Exchange KuCoin
July 21, 2022 - KuCoin, a crypto exchange, announced that it had secured a strategic investment from Susquehanna International Group, a quantitative trading firm. In addition to the 10-million US dollar investment, the two parties will collaborate in blockchain startup incubation and Kucoin KCS & KCC token ecosystem building.
SIG is a quantitative trading firm which covers most listed financial products and asset classes, with a focus on derivatives.
Established in 2017, KuCoin, a crypto exchange with over 20 million users has supported over 700 tokens and 1,200 trading pairs. We wrote earlier how Kucoin’s 2022 H1 results increased 180% compared to the same period in 2021.
KuCoin will use the funds to upgrade platform infrastructure and enrich the product lineup. 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.
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