Crypto exchange KuCoin valued at US$10bil in latest funding round

FILE PHOTO: Representation of cryptocurrency is seen in front of a Kucoin logo in this illustration taken on February 9, 2021. REUTERS/Dado Ruvic/Illustration

BENGALURU: Cryptocurrency exchange KuCoin raised $150 million in a series B funding round led by Jump Crypto, the company said on Tuesday, giving it a valuation of $10 billion.

KuCoin, the fifth largest crypto exchange according to data firm CoinMarketCap, has 10 million users in 207 countries. It plans to use the money to expand its presence in Web3, a utopian version of world wide web that is decentralized and is based on blockchain technology.