Cryptocurrency exchange KuCoin has raised $10 million in strategic investment from US trading firm Susquehanna International Group (SIG).

KuCoin is using the funds raised to prepare for the bull market by upgrading its platform infrastructure, expanding its product line, and continuing to hire employees. The company currently has 300 open positions.

The crypto exchange plans to introduce new services in Asia, Europe and other regions.

KuCoin CEO Johnny Liu stated that SIG’s investment is part of a collaborative effort to support startups and promote new blockchain technologies with a focus on Web3 and decentralized ecosystems.

“We have gone through several crypto cycles and are committed to improving no matter what. We are pleased to announce that we have found another partner with the same vision and values. SIG’s support will strengthen KuCoin’s leading role as a centralized exchange and facilitate the expansion of our ecosystem in the decentralized Web 3.0 world.”

The partners will also create a blockchain incubator and develop the ecosystem around the KuCoin Token (KCS) and KuCoin Community Chain (KCC) blockchain.

SIG is confident that the collaboration with KuCoin will be beneficial for the entire crypto industry:

“This will create synergies between SIG and KuCoin. “We believe our work will benefit the entire crypto industry and make it available to a wider audience,” the SIG investment department said.

Recall that in May 2022, KuCoin raised $150 million in a preliminary Series B round of $10 billion led by Jump Crypto. Other investors include Circle Ventures, IDG Capital and Matrix Partners.

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