Kucoin, a Singapore-based cryptocurrency successfully raised $20 million in its series A funding round. Organizations involved in this process included giants like IDG Capital, Matrix Partners, and Neo Global Capital.
As per reports, the exchange is all decked up to use the amount from the funding to launch its much-anticipated venture, Kucoin platform 2.0. This new platform of the organization will come up with new and advanced features such as upgraded Application Programming Interfaces, stop orders, and a blockchain dust collecting tool, etc. This high-tech tool will allow users to trade small amounts for the KuCoin Token easily and conveniently. This upgrade is set to hit the floors by the first quarter of the approaching year.
Apart from the advanced platform launching, KuCoin is also keen to invest some of the amount raised to foster a smooth trading experience for its investors by employing funds to hire more customer support staff and expand its research team. As per sources , KuCoin is also planning to expand their platform to the global market by inducing a targeted marketing and advertising campaign launch for its grand aspirations.
Its expansion plan will help it to enter the potential markets of countries like Vietnam, Russia, Italy, and a few more. If we go by the reports, then the exchange house is preparing to hit nearly ten global markets by the second quarter of the coming year.
KuCoin made its grand entry in the financial arena back in September 2017, and since then it has become a favorite of nearly five million registered users on its platform. Perhaps, the available data highlights that with its trading capacity of roughly $600 million per month, it is indeed not amongst the top cryptocurrency exchanges,
Earlier this month the company got into an infamous controversy when a journalist claimed that its Hong Kong office was just a virtual address and that the office was empty. In response to this situation, KuCoin clarified that its Hong Kong office address is mainly limited for mailing purposes.