KuCoin Hits $10B Valuation in Funding Round Led by Jump Crypto

KuCoin Hits $10B

Digital asset exchange KuCoin has reached a valuation of $10 billion following a $150 million funding round led by Jump Crypto.

The company also listed Circle Ventures, IDG Capital, and Matrix Partners among those who participated in the round, which was the first in four years.

The step comes as KuCoin expands into the Web3 environment. The company’s venture capital branch recently launched a $100 million Creator’s fund.

Kucoin has announced that the funding rounds will be useful in expanding its crypto wallet, GameFi, DeFi, and NFT protocols. The company added that its community-managed public chain KCC would be tasked with hosting the decentralized ecosystem.

The firm is currently ranked as the fifth-largest cryptocurrency exchange, with 18 million users spread across various countries. Coinbase is another cryptocurrency exchange that recently announced the launch of a NFT marketplace.

Source: Kucoin

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