Crypto and web3 are global enterprises, and attitudes in officialdom vary around the world. Regulators in the US have a fraught relationship with the crypto industry, while in the EU, a framework of regulations called MiCA presents an imperfect but more constructive approach. Against this backdrop, attention is turning increasingly to Asia, where there is speculation about the region becoming a hub of crypto and web3 development.
Such possibilities have been reinforced this week with an announcement from KuCoin Ventures that it is leading a $10 million investment, alongside investors such as IDG Capital, SIG and Circle Ventures, into what is shaping up to be an important blockchain name, CNHC.
We are thrilled to share another KuCoin milestone with you! KuCoin secured a 10-million US dollar strategic investment from SIG, one of the largest quantitative trading firms. 🎉🎉🎉 https://t.co/MdQzzEEgiO
— KuCoin Ventures (We’re hiring) (@KuCoinVentures) July 21, 2022
Fully Backed and Pegged
KuCoin Ventures is the investment arm of the KuCoin crypto exchange and trading platform and is focused on web3 projects, including infrastructure building. And as for CNHC, it is a stablecoin issuer and cross-border payment service provider, with a settlement network that covers over thirty countries, across LATAM, Africa, and other regions, and which is now aiming to facilitate easier transactions between Chinese…
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