KuCoin Makes Strategic Investment in KCC-based Lending Protocol Torches Finance

KuCoin, a leading global cryptocurrency trading platform, announced that its venture capital arm – KuCoin Ventures – has made a strategic investment in Torches Finance, the decentralized lending protocol based on KuCoin Community Chain (KCC).

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Torches Finance is a KCC-based lending protocol that integrates functions such as lending, leveraged mining, and NFT. After receiving the strategic investment, Torches Finance will be improving the ease of use and market share of products from a variety of aspects, including categories such as products, technology, security, team, and market. In terms of products, Torches Finance will upgrade and optimize existing services, while continuing to expand the depth of current products, effectively improving the asset utilization rate of investors. At the same time, Torches Finance will continue to work with DeFi projects on the KCC to jointly build the KCC DeFi ecosystem.

Justin Chou, the Chief Investment Officer of KuCoin, said: "KCC is one of the focuses of KCS ecological development, and we are very concerned about the development of the KCC ecosystem. As for Torches, as the infrastructure of the DeFi track on the KCC, its launch has improved the utilization rate of user assets while also enriching ways investors on the KCC can increase their portfolios. With the development of the infrastructure on the KCC, we hope that Torches can become the entrance of the KCC DeFi project, allowing more people to use decentralized finance and share the DeFi dividends."