KuCoin Secures $20 Million Partnership Investment in Series A

The Singaporean crypto exchange KuCoin has received a $20 million investment in the Series A funding round, landing a partnership investment from IDG Capital, Matrix Partners and Neo Global Capital.

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Speaking on behalf of IDG, Young Guo said that the investment in KuCoin is in line with IDG’s long-lasting strategy set back in 2012. IDG has been investing in new and innovative projects for a long time, having been the early investors in Coinbase before its global expansion and popularity.

KuCoin currently counts up more than 5 million global users and the newly attracted capital will provide the means for expansion as well as for the creation of a more secure and accessible environment.

Michael Gan, KuCoin’s CEO, expressed the company’s future plans that include the release of KuCoin Platform 2.0 online in the early months of 2019, upgrading the customer service by increasing staff numbers, and research for new and innovative blockchain initiatives.

KuCoin has continuously developed its global market strategy, and previously entered the Australian market with an investment in Bitcoin Australia – a move labeled by Michael Gan back in September as “not only a great strategic decision, but an excellent long-lasting partnership to help cryptocurrency grow globally.”

The current $20 million investment comes at a perfect time, now that KuCoin has been gaining momentum in the last couple of months. Another main goal for KuCoin will be setting the gold standard in their customer service with growth efforts focused on all Spanish-speaking countries, Russia, Italy, Turkey, and more.  Furthermore, it is expected that by mid-2019, 10 global user communities of KuCoin will be fully functional.

All these efforts express Gen’s vision of a future where everything is powered by the blockchain. He stated that partnerships such as this are “dynamic and significant” and allow users to find the best products and solutions easily in the crypto world at any point of the globe.

When looked upon from the perspective of each partner’s strong sides, the newly-formed cooperation looks like the perfect match. It comes to fill the gaps in times of big market need. The combined power of Neo Global Capital’s investments in leading blockchain projects, IDG’s marketing force, and Matrix’s resources will surely help the already international brand of KuCoin in becoming globally dominant.

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