KUCOIN
| Founded | 2017 |
|---|---|
| Type | Company |
| Headquarters | Singapore |
| Products | Cryptocurrency exchange |
Key people | Michael Gan, Johnny Lyu |
| Website | https://www.kucoin.com |
KuCoin is a Cryptocurrency exchange, which was founded in 2017, with headquarters located in Singapore. [1]
In November 2018, KuCoin announced a 20 Million US Dollar investment from IDG Capital and Matrix Partners. [2]
History
Founder Michael Gan was among the first batch of users of NetEase’s free personal site hosting service in 1998. In 2009, he became the main developer and co-founder of Missyi Inc., an image sharing and editing app, and later he joined Alibaba Group’s Ant Financial as a technical expert. [3]
The KuCoin exchange founders started researching blockchain technology in 2011 and went further to build the technical architecture for KuCoin in 2013. In 2017, the exchange was launched and by early 2018, KuCoin managed to work its way up from an obscure exchange to a spot as the 18th largest exchange by 24-hour trading volume. [4]
In January 2018, following a 2017 ban on Bitcoin exchanges by the Chinese government, KuCoin announced a ban on all IP addresses from China. [5]
In September 2018, KuCoin announced an investment of almost $3 million into Bitcoin Australia, a local crypto exchange, which intends to use the funding to embark on its own aggressive international expansion, as well as to help KuCoin enter the local market. [6]
In November 2018, KuCoin announced round A funding of $20 million USD from IDG Capital, Matrix Partners and Neo Global Capital. [7]
On 18 February 2019, KuCoin announced the completion of its version 2.0 upgrade, bringing changes like advanced API, Limit, Stop, Market, Post Only and Iceberg order types and so forth. [8]
In March 2019, KuCoin announced that it has partnered with payment processor Simplex to allow users to purchase crypto with credit cards. Users can purchase Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash ABC (BCHABC) and Litecoin (LTC) for both dollars and euros. [9]
In July 2019, KuCoin announced the launch of a crypto derivatives trading platform KuMEX, offering up to 20 times leverage. [10] The leverage cap has been lifted to 100 times in December 2019. [11]
In August 2019, Jackson Wong, an independent journalist, stated that KuCoin’s Hong Kong office lies empty. KuCoin responded to Wong’s post, explaining that the company’s public address in Hong Kong “is merely a mailing address of one of KuCoin’s many subsidiary companies.” The exchange added that its headquarters are in Singapore, and that it has over 300 employees working out of other offices located in Thailand, the Philippines, and China. [12]
On 26 November 2019, KuCoin announced a partnership with fiat on-ramp Banxa to offer instant fiat to crypto currency conversions, making it possible for KuCoin clients to make bank transfers, credit or debit card payments or through the 1,200-newsagent network in the British Pound (GBP) and the Australian Dollar (AUD), in order to buy Bitcoin (BTC) and Ethereum (ETH).[13]
In February 2020, KuCoin announced KuCloud, the cloud service for crypto trading platforms. [14]
On 17 March 2020, KuCoin exchange announced the establishment of KuGroup, a core division of the company that will manage all KuCoin products, including KuCoin Global, KuCloud and KuChain & KCS Business Group. [15]
In April 2020, cryptocurrency exchanges including KuCoin, Binance and BitMEX were named in 11 class action complaints at a federal court in Manhattan. [16]
On 20 April 2020, KuCoin announced a partnership with the crypto assets’ custody platform Onchain Custodian. Onchain will provide its services for the “safekeeping” of the digital assets on KuCoin, and the world’s largest private insurance brokerage firm, Lockton Companies, will take care of the custodial funds. [17]
References
- ↑ Teqatlas https://teqatlas.com/investment-opportunities/companies/kucoin. Retrieved 14 November 2018. Missing or empty
|title=(help) - ↑ "Singapore crypto exchange KuCoin nets $20m from investors IDG, Matrix Partners". Tech in Asia. Retrieved 14 November 2018.
- ↑ "KuCoin's CEO and Co-Founder, Michael Gan in an Exclusive Interview with CryptoNewsZ". CryptoNewz. Retrieved 20 October 2018.
- ↑ "KuCoin Exchange Review: How Does KuCoin Stack Up?". CoinCentral. Retrieved 8 February 2018.
- ↑ "KuCoin Announced a Ban on All IP from China". 36Kr. Retrieved 22 January 2018.
- ↑ "Singapore crypto exchange KuCoin set to expand after $3m Bitcoin Australia deal". Financial Review. Retrieved 9 September 2018.
- ↑ "Crypto Exchange KuCoin Raises $20 Million From IDG, Matrix, Neo Global". Coindesk. Retrieved 14 November 2018.
- ↑ "KuCoin 2.0 Is Live and the Early Reviews Are Looking Good". SludgeFeed. Retrieved 18 February 2019.
- ↑ "Exchange KuCoin Enables Credit Card Purchases of Crypto". Cointelegragh. Retrieved 28 March 2019.
- ↑ "KuCoin launches derivatives trading platform KuMEX, promises up to 20x leverage". The Block. Retrieved 8 July 2019.
- ↑ "KuCoin's KuMEX Futures Platform Now Offers up to 100X Leverage". NewsBTC. Retrieved 20 December 2019.
- ↑ "Kucoin's Hong Kong Office Reportedly Empty, Company's Twitter Account "Temporarily Restricted"". CryptoGlobe. Retrieved 12 August 2018.
- ↑ "Kucoin Now Supports GBP and AUD Fiat Deposits via Banxa Partnership". BitcoinExchangeGuide. Retrieved 27 November 2019.
- ↑ "KuCoin Launches KuCloud". Altcoin Buzz. Retrieved 23 February 2020.
- ↑ "IDG-Backed Crypto Exchange KuCoin Establishes KuGroup to Expand Services". Cointelegraph. Retrieved 17 March 2020.
- ↑ "Crypto-Focused Law Firm Hits Binance, BitMEX with 11 Lawsuits in US". Finance Magnates. Retrieved 6 April 2020.
- ↑ "KuCoin Joins Hands with Onchain Custodian to Secure Users' Digital Funds by Lockton Insurance". Tokenhell. Retrieved 20 April 2020.
External Links
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