Since initiating its trading platform in September 2017, the KuCoin Exchange has grown vastly in this short amount of time. Dubbed as ‘The People’s Exchange’, they strive to give users the best network for cryptocurrency trading around the world. While evolving their business strategies as needed, they continue to provide reputable digital finance services for users of the platform.
Partners of the KuCoin Exchange
Often in the cryptocurrency world, partnerships happen to give investors better choices for their portfolios and increase business operations. KuCoin had released partnering intentions with IDG Capital, Matrix Partners, and Neo Global Capital back in 2018.
• IDG Capital: Specializing in venture capital, private equity, as well as business mergers and acquisitions with 15 offices around the world.
• Matrix Partners: Private equity investment firm that specializes in venture capital based in the United States.
• Neo Global Capital: Specializing in financial services for blockchain platform projects serving clients in Singapore.
And while multiple partnerships can reap many benefits for these organizations, there is a question of Matrix Partners confirmed involvement. Currently, there is no substantial evidence that Matrix Partners has indeed partnered up with the KuCoin Exchange for future endeavors.
Recent Corporate Restructuring for KuCoin
The KuCoin Exchange recently released an announcement on March 17, 2020, that outlines a corporate-wide restructuring. This movement details the inception of the KuGroup, which includes 3 separate business groups within the organization, including:
• KuCoin Global
• KuChain & KCS Business Group
As the corporate structure has been modified, the need for positive branch control is essential. In the KuCoin Exchange announcement, Michael Gan was appointed Chairman of KuGroup and Johnny Lyu as CEO of KuCoin Global. Both of these gentlemen have extensive cryptocurrency experience and vast knowledge of the changing global markets.
And while corporate restructuring isn’t a bad move for an organization, this move has raised some questions for account holders. Ownership concerns of the KuCoin Exchange and its subsidiaries are in headlines as legal issues are looming over them.
Pending Legal Matters
Having pending legal matters is not the best situation for a large-name cryptocurrency exchange in today’s volatile market. Potential investors and crypto enthusiasts are inclined to make assumptions when a company has shown an unspecified management direction. Anxiety and fear can keep a company from gaining more popularity and clients now and in the future.
Some legal complications for KuCoin Exchange include:
• Class action regarding the selling of unregistered securities
• Pending class action for accusations of providing false and misleading statements to account holders
• High Court of Singapore has locked the KuCoin website, preventing them from moving assets from the country
The KuCoin Exchange Current Situation
Even with uncertain times, KuCoin continues to be ‘The People’s Exchange’ for fiat-to-crypto, borrowing, crypto-to-crypto, and other digital financial services. KuCoin Exchange serves over 5 million digital currency users today residing in 207 countries and regions worldwide. Totalling over 65 billion worth of transactions to date, KuCoin continues to give investors what they require for online trading. More importantly, 1 in every 4 cryptocurrency wallet holders in the world is with KuCoin Exchange.