KuCoin

KuCoin is a cryptocurrency exchange that offers users the ability to buy, sell, and trade a number of DeFi tokens (over 700 tokens as of May 2022). The platform provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending services. It also offers a community-built public blockchain named KuCoin Chain (KCC) that is compatible with the Ethereum Virtual Machine (EVM) and ERC-20 smart contracts. The chain leverages a proof-of-stake consensus system and operates as a DAO governed by its native token “KCS.” As of May 2022, it served over 18 million users from over 200 countries around the world. 

In June 2022, KuCoin launched a non-custodial decentralized wallet. The platform features cross-blockchain integration and enables users to buy, sell, and trade a number of tokens in the KuCoin ecosystem. Though the wallet is offered as a browser extension, at the time of launch, the company also stated that a mobile application was in development.

Key customers and partnerships 

KuCoin partnered with the Pyth network, a Solana-based Oracle solution that provides trusted and verifiable market data to dApps, in May 2022. This partnership enabled KuCoin to offer real-time prices of trading pairs listed on KuCoin to Pyth network and bring crypto market prices on-chain.

Funding and financials

In July 2022, KuCoin raised over USD 10 million through a strategic investment from Susquehanna International Group. In addition to the investment, the two companies entered a partnership to help incubate and build networks for crypto startups and projects primarily built on the KCC chain, KuCoin’s community-backed blockchain. KuCoin also stated that the funds will be used to upgrade its infrastructure, develop its product offering, and support the expansion of the company's global footprint and employee base.