Hong Kong Exchange KuCoin Nets $20 Million Investment From Major VC Firms
Led by IDG Capital, Matrix Partners and Neo Global Capital, the funds will go towards the release of KuCoin’s 2.0 platform, expansion into new markets, research and more.
“We will continue to spare no effort in exploring the best hidden gems in the crypto world while growing exponentially on a global scale and, more importantly, solidifying our position as ‘The People’s Exchange,’” officials commented in the release.
Strategically affiliated with Chinese blockchain platform NEO, Neo Global Capital has made various investments in blockchain startups in recent months, including South Korean music project Muzika in September.
KuCoin marks a further step in the continued divergence of Hong Kong’s cryptocurrency sector from mainland China, businesses seeking to relocate to the autonomous territory to avoid increasingly draconian measures enforced by Beijing authorities.