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KuCoin and Susquehanna International Group (SIG) have entered into strategic partnerships across various ventures.
KuCoin, the world’s leading cryptocurrency exchange, announced on Thursday, July 1st that it has secured a strategic investment from one of the largest quantitative trading companies, the Susquehanna International Group (SIG).
In addition to the $ 10 million investment, the two entities will work together on blockchain startup incubation and building the KCS & KCC ecosystem, according to the team.
KuCoin will use this funding to upgrade its platform infrastructure and enhance its product lineup ahead of the next Bull Run. Funding will also help crypto exchanges expand globally and hire more workers.
KuCoin is one of the companies that still has the potential for large-scale employment despite the ongoing bear market. There are currently 300 jobs available for crypto exchange.
SIG and KuCoin will also jointly support promising cryptocurrency startups through incubation, investment and consulting, especially projects built on the KCC chain.
While commenting on this latest development, KuCoin CEO Johnny Lyu said:
“KuCoin has gone through several encryption cycles. We are working on building whatever we do. We are happy to announce that we have found another partner with the same vision and values. I think the support of the SIG will strengthen our leading role as a centralized exchange and drive the expansion of the ecosystem in the decentralized Web3.0 world. “
The SIG team said:
This partnership is an important step for the SIG and demonstrates our efforts to partner with the best players in all areas. KuCoin is the fastest growing with an agile growth strategy and a positive team. We believe that this collaboration will create a synergistic effect between SIG and KuCoin and benefit from providing the crypto industry to more users. “
SIG is a global quantitative trading company founded with an entrepreneurial spirit and a rigorous analytical approach to decision making. As one of the largest proprietary trading companies in the world, this platform is an expert in trading all financial instruments and asset classes.
KuCoin has been around since 2017 and is currently one of the top 5 cryptocurrency exchanges in the world with over 20 million users. In May, the exchange reached a valuation of $ 10 billion after raising $ 150 million in a funding round.
The cryptocurrency exchange also processed over $ 2 trillion in trading volume in the first half of 2022. This is an increase of 180% compared to the same period in 2021.
