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Crypto company “KuCoin” raises funds from the company investing in TikTok to discuss global expansion and infrastructure upgrade

Crypto company “KuCoin” raises funds from the company investing in TikTok to discuss global expansion and infrastructure upgrade

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Answer Crypto company “KuCoin” raises funds from the company investing in TikTok to discuss global expansion and infrastructure upgrade

In 2022, KuCoin broke a number of major adoption milestones, with its user base jumping more than 100% in the past seven months and exceeding 20 million registered users.

In July 2022, KuCoin received an eight-figure investment from SIG. According to the official announcement shared by the KuCoin team, it has entered into a long-term strategic collaboration with Susquehanna International Group (SIG).

KuCoin received $10 million in strategic investments from SIG.

Besides, the two teams will collaborate in supporting early stage startups and building the KCS/KCC system.

By receiving this funding, KuCoin will see a massive increase in liquidity, launch new products and provide new services in Asia, Europe and other promising regions.

Besides, the KuCoin team has huge hiring plans despite the current crypto winter.

Notably, Susquehanna International Group, or SIG, is one of the most influential quantitative teams globally as it is responsible for 20% of stock and options trading volumes in the United States.

SIG holds a 15% stake in Chinese short video platform TikTok.

In total, the company manages more than $80 billion in various assets.

By May 2022, KuCoin had raised more than $170 million in investments, pushing its value to over $10 billion, making KuCoin the latest decade in the fintech space.

Read:Find out which companies within the S&P 500 accept bitcoin as payment!

The KuCoin platform has over 20 million registered users and $3 trillion in cumulative trading volume.

In 2022, peak daily trading volume exceeded $23 billion in futures contracts and $11 billion in spot trading, respectively.

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