The Singapore cryptocurrency exchange KuCoin said Wednesday it completed a $20 million, Series A funding round.
In a statement on its website, KuCoin said it would use the money to further development of its 2.0 platform, increase customer support staff, expand into targeted markets globally and accelerate research to pinpoint “the best” blockchain projects, among other purposes.
Back in September KuCoin said it would release the 2.0 platform at the end of this year’s fourth quarter. This version will include a stop order feature and adjustable trading fees depending on someone’s trading frequency. It will also allow phone registration.
In the same post, KuCoin said it was looking to expand its presence in Russia, Vietnam, Turkey and Spanish-speaking countries. Right now the company has more than five million registered users.