HomeLatest NewsKuCoin receives a $10 million strategic investment from SIG

KuCoin receives a $10 million strategic investment from SIG

Hassan Maishera

KuCoin and the Susquehanna International Group (SIG) have entered a strategic partnership that spans various ventures.

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

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

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

KuCoin remains one of the companies with massive hiring potential despite the ongoing bear market. The crypto exchange has 300 job openings currently 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 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.”

The SIG team said;

“This partnership is an important step for SIG that illustrates our strive to partner 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 cooperation will create a synergy between SIG and KuCoin, benefiting the crypto industry by bringing it to a wider audience.”

 SIG is a global quantitative trading firm founded with an entrepreneurial mindset and a rigorous analytical approach to decision-making. As one of the largest proprietary trading firms 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 exchange reached a $10 billion valuation after raising $150 million in a funding round.

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