KuCoin’s valuation jumps to $10 billion in latest funding round

Cryptocurrency exchange KuCoin has raised $150 million in a series B funding round led by Jump Crypto.

The funding gave KuCoin a valuation of $10 billion.

Per CoinMarketCap, KuCoin is the fifth largest crypto exchange and it has 10 million users in 207 countries.

KuCoin plans to use the raised fund to expand its presence in Web3.

The Seychelles-based company offers trading services plans to use the funds to expand to crypto wallets, digital finance, non-fungible tokens as well as to build its online community of crypto users.

The latest funding round includes investment from Circle Ventures, IDG Capital and Matric Partners.