KuCoin Receives $10 Million Investment From SIG – UK Time News

KuCoin and the Susquehanna International Group (SIG) have entered into a strategic partnership that includes several companies.

KuCoin, a leading global crypto exchange, announced on Thursday, July 1, that it had secured a strategic investment from Susquehanna International Group (SIG), one of the largest quantitative trading companies.

According to the team, in addition to the $10 million investment, the two entities will collaborate in blockchain startup incubation and building KCS & KCC ecosystems.

KuCoin will use the money to upgrade the platform infrastructure and enrich the product range ahead of the upcoming bull run. The funds will also help expand the cryptocurrency exchange globally and hire more employees.

KuCoin remains one of the companies with huge recruiting potential despite the ongoing bear market. The crypto exchange currently has 300 job openings available.

SIG and KuCoin will also jointly support promising crypto startups through incubation, investment and consultation, especially the projects built on the KCC chain.

While commenting on this latest development, Johnny Lyu, the CEO of KuCoin said;

“KuCoin has been through a few crypto cycles and we are determined to build no matter what. We are pleased to announce that we have found another partner with the same vision and values. SIG’s support will solidify our leadership role as a centralized exchange and facilitate our ecosystem expansion in the decentralized Web 3.0 world.”

The SIG team said;

“This partnership is an important step for SIG that illustrates our commitment to work with the best players in every field. KuCoin is one of the fastest growing crypto stars with an agile growth strategy and a forward-looking team. We believe this partnership will create a synergy between SIG and KuCoin, which will benefit the crypto industry by bringing it to a wider audience.”

SIG is a global quantitative trading company founded with an entrepreneurial mindset and a rigorous analytical approach to decision making. As one of the largest proprietary trading companies in the world, the platform is an expert in trading all financial products and asset classes.

KuCoin has been around since 2017 and is currently one of the top 5 crypto exchanges in the world, with over 20 million users. In May, the stock reached a valuation of $10 billion after raising $150 million in a funding round.

The cryptocurrency exchange also processed more than $2 trillion in trading volume in the first half of 2022, an increase of 180% compared to the same period in 2021.