Global crypto exchange KuCoin reportedly has plans down its pipeline to break beyond the confines of centralized trading services and focus on Web3, with new capital injections from Circle Ventures and others. 

Specifically, the KuCoin cryptocurrency exchange reportedly issued official details regarding a newly acquired $150 million equivalent of financial support via a pre-Series B funding round, helping the firm hit the $10 billion mark in terms of valuation. 

The most recent fundraising primarily looks to reinforce the exchange’s alliances with high-profile industry players, together with promoting the mass adoption of crypto. 

“KuCoin is financially healthy. […] We are still in contact with many VCs, and we are open to having another round in the near future, as long as we can find partners that share the same value and vision with us.”

The most recent KuCoin fundraising is led by Jump Crypto, the crypto-focused division of a top-tier quantitative trading firm Jump Trading Group. Circle Ventures, the crypto investment division of the USD Coin (USDC) stablecoin, is among the new investors in the round.

current investing entities reportedly include high-profile investment company IDG Capital and the private equity investment firm Matrix Partners, which took part in KuCoin’s $20 million Series A funding round in November 2018.

As covered within the master plan of KuCoin to concentrate on decentralized trading services and footprint in Web3, the firm aims to design and make investments in crypto wallets, services associated with decentralized finance, GameFi, and NFT platform. 

The company specifically has plans down its pipeline to make investments in its different divisions such as KuCoin Labs and KuCoin Ventures, together with the public community chain known as KCC.