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KuCoin Started New Startup Incubation Program With $50M Fund


KuCoin started a new startup incubation program with a $50 million fund with a goal to help new projects and developments thrive in the crypto space so let’s read more in our latest cryptocurrency news.

Crypto exchange KuCoin started a new startup incubation program with the idea of boosting the developments of new projects and developments in the crypto space thanks to the $50 million fund to bestow on the new startups to help uncover more crypto projects that will develop in value.

This is a major boost and development in the crypto space that oftentimes needs more funding as projects had already had to compete in a messy environment that became swamped with scam ICO projects leading investors to seek returns in other directions. There was a huge amount of talent that was sitting on the bottom in the crypto and blockcahin pool and KuCoin Labs objective are now to help uncover them by giving founders the needed capital in order to develop and to promote their ideas.

KuCoin Labs gathered a collection of crypto exchanges that are on call for the startups to gain knowledge and to help boost their tokenization, marketing, monetization, and market research. The platform now boasts a portfolio of more than 50 projects that include names like MultiVac, LUKSO, OneLedger, and others that work in the NFT and DeFi space. According to the CEO of KuCoin Global Johnny Luy, now is the best time to help these projects develop and to help the industry grow to a level of mass adoption.

 “Kucoin Labs goal is to discover more hidden gems in the crypto space and empower their development through various KuCoin offerings including the upcoming KuCoin Community Chain. Together, we will drive for the mass adoption of blockchain.”

The exchange behind the initiative is one of the most widely used digital exchanges and according to KuCoin, 1 out of 4 holders across the world uses exactly this platform. The exchange saw huge growth in line with the crypto market passing the $2 trillion level and seeing an increase in trading volume of 465% as well as user growth of 577%. Up to this date, the IDG-backed KuCoin that was founded in 2018, helped 250 projects gain traction.

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