A Letter From KuCoin CEO – After Reaching a Valuation of $10 Billion, What’s Next?
Nearly half of 2022 has passed, and KuCoin has reached yet another remarkable milestone! We’ve just concluded a Pre-Series B Funding of $150 million from Jump Crypto, Circle Ventures, IDG Capital, and Matrix Partners, which has boosted KuCoin’s valuation to the region of $10 billion.
Three and a half years have passed since our $20 million in Series A Funding from IDG Capital and Matrix Partners came around. Indeed, throughout this fantastic journey, KuCoin has grown rapidly with the help of its global audience. We’d like to point out a few highlights from this journey:
· We’ve served more than 18 million users in over 200 countries and territories;
· As the top 1 altcoin exchange, we support 700+ assets and 1,200+ trading pairs;
· Our accumulated trading volume has exceeded $1 trillion, thanks to our industry-leading liquidity and market depth.
As a key promoter of the cryptocurrency industry, KuCoin believes that technological progress will revolutionize the way we create and distribute value. Moreover, one day, we’re convinced that everyone will get involved with crypto. That’s why we’re pleased to contribute to this process, accelerating cryptocurrency adoption around the world. After our latest round of financing, we'll be working closely with our partners to provide all classes of investors with enhanced crypto-financing services. Meanwhile, new funds and partners will help us go beyond centralized trading services. We believe that the development of Web 3.0 and DApps has reached a critical point, and therefore, the creation of a decentralized ecosystem, offering a greater variety of products and improved services in the decentralized space, will be our main focus moving forward.
Specifically, we’ll be empowering the growth of KuCoin’s ecosystem in the following ways:
1. Via an enhanced user experience: as a tech-driven company in the crypto world, we will continue improving our infrastructure by building a next-generation KuCoin core trading system, resulting in a tenfold increase in performance that will reduce trading latency and bring a better trading experience for users.
2. Through an improved global strategy: we’ll fully support KuCoin's global regulation efforts to better serve the current 18 million users in over 200 countries and territories while preparing to offer a full suite of services for an ever-increasing amount of users. We’ll be looking to continue our expansion into key markets across the world as a leading global exchange, including Europe, the Middle East, South Asia, Africa, and Latin America, providing localized products and services with precision-level operation through local teams and partners.
3. By fostering best-in-class security: ensuring the safety of user assets is KuCoin's first priority. We continue to make sure that with every following security upgrade, KuCoin’s security and vulnerability resistance will increase in tandem.
In addition to our outlook on business expansion, talent is always key in the development of the KuCoin ecosystem. Over the course of 2021, our teams have nearly doubled in size. However, that’s still not enough to keep up with KuCoin’s growth. We’re recruiting worldwide for various roles in tech, marketing, management, and other divisions. With our sincere and eager anticipation, we wish to embrace more talented people to join hands in building the future of blockchain at KuCoin.
Throughout recent years, KuCoin has built up expertise in areas such as crypto-wallet development, NFTs, and GameFi, all in its decentralized ecosystem. Moving forward, the new influx of capital will help us better create a bigger and more diverse ecosystem by incubating, investing in and acquiring startups with great potential. In this blueprint, investment institutions such as KuCoin Labs and KuCoin Ventures will become an important driving force for us to expand our influence in Web 3.0. KCC, jointly built by members of the KuCoin community and KCS fans, will also be an important aspect in deploying resources to improve the creation of a decentralized ecosystem.
As the native token of KuCoin and the primary force behind KCC, the value of KCS can reflect how the centralized and decentralized ecosystem can work collaboratively to capture value, as KCS’ users continue to benefit from our growth. As KuCoin moves onto its next chapter, KCS shall follow suit.
In 2022, we’re anticipating a truly wild ride!! Indeed, to every respected KuCoin user, we sincerely invite you to bear witness to our progress.
Yours faithfully,
Johnny Lyu