KuCoin raises $150 million and launches in Web 3.0

Firmly, KuCoin is in full swing and multiplying initiatives and announcements. The popular cryptocurrency exchange, which was launched in 2017, today confirms its desire to participate in a very concrete way in Web 3.0. (or Web3).

KuCoin raises $150 million

Web 3.0: The Inevitable Evolution of the Internet

As a reminder, the concept of Web 3.0, which we’ve heard more and more about in recent months, refers to the development of the Internet, which is moving towards a more intense and generalized decentralization. The arrival of Decentralized Finance (DeFi), cryptocurrencies, and NFTs are all manifestations of this decentralized Web 3.0.

This new influx of capital will allow KuCoin to bypass centralized trading services and expand its presence within Web 3.0, which includes cryptocurrency wallets, GameFi platforms, DeFi, NFT and others thanks to the investment branches that are KuCoin . Labs And KuCoin projects.

We note that KCCThe public chain built by members of the KuCoin community will also be an important infrastructure where resources will be deployed to create a decentralized ecosystem.

Concretely, we are talking about $150 million in funding that raises the valuation of KuCoin to $10 billion. It should be noted that this funding round, organized by Jump Crypto, attracted major players in the sector, including several investment funds, Department projectsAnd IDG Capital or Matrix Partners.

What is the purpose of this fundraising?

$150 million will be used in a variety of ways by KuCoin. Here are two axes that the exchange maintains:

Building the next generation of the KuCoin centralized trading system with the goal of increasing the platform’s performance tenfold.

Supporting KuCoin’s global regulatory efforts to better serve its 18 million users in more than 200 countries and regions.

Johnny LiuKuCoin CEO, stressed the importance of fundraising and the trust investors placed in the exchange.
“A vote of confidence from top investors, including Jump Crypto and Circle Ventures, reinforces our vision that one day everyone will use crypto. KuCoin is designed for all classes of investors, and we believe these new investors and partners will help make KuCoin a reliable and trustworthy gateway to coding space.

from his side, Tak FujishimaJump Crypto’s Asia Head said,
“KuCoin provides a comprehensive crypto services platform to a global audience, which is one of the many reasons we are proud to lead this funding round. We are pleased to support the company as it continues to grow. Develop and expand its future offering and options for margin trading, lending, stacking, and passive yield to support the growth of the Web 3.0 and marketplaces.” Cryptocurrency.”

From geeks to mass adoption

A very concrete commitment

KuCoin is not in the position of conditions and on the contrary is determined to take action in a very concrete manner. Less than a month ago, the exchanger Throw A $100 million fund to support artists involved in early-stage NFT projects or explore niche sectors. The new incubation fund will give young artists the opportunity to promote their work wind vaneKuCoin NFT platform.

Windvane will strive to build a bridge between Web2 and Web3 by creating a world around NFTs that is more integrated and where the barrier to entry for new users is low.” KuCoin CEO announced at the time, that the exchange is definitely part of the shift towards Web 3.0.

If you haven’t had a chance to use KuCoin to exchange yet, you can open an account in minutes – no Know Your Customer (KYC) required. You also get a chance to win $500 USD for trading when you sign up! Find out exactly how to do it here.

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About KuCoin

according to CoinMarketCapKuCoin is the fifth largest crypto exchange in the market by 24-hour volume. It is possible to do spot trading, margin trading, P2P mandatory trading, futures trading, betting and access to lending options. KuCoin, which was ranked by the prestigious Forbes magazine as one of the best cryptocurrency exchanges in the world in 2021, has at least 18 million users in 207 countries and territories around the world.

explore Cocoin Follow the project on social networks: TwitterAnd Twitter (spoken in French), cable (Speak in French).

The following article is part of the Cryptonews series “Good Crypto Deals” and was written as a promotional article in collaboration with the partner of this offering. If your business is running an exclusive promotion that you would like to share with our readers, we invite you to call us.

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