March 17, KuCoin exchange announced that it has established KuGroup to develop its trading, cloud and newly introduced public chain business.

KuGroup will have three business groups: KuCoin Global, KuCloud, and KuChain & KCS Ecosystem. Along with the structural adjustment, current KuCoin CEO Michael Gan has been appointed as Chairman of KuGroup, who will oversee the global strategy of KuCoin Global and KuChain, the Public Chain powered by KuCoin.

“When I was still at Alibaba, I had worked in the AI department of Ant Financial and observed how this cutting-edge technology has been applied to various industries”, said Michael Gan, “As a growing number of countries such as India, Korea, and France open its door to blockchain and crypto, the mass adoption will be inevitable and KuChain, as well as its ecosystem, will largely contribute to this trend”.

Johnny Lyu, co-founder of KuCoin, will take over Michael’s role as CEO of KuCoin Global. With his new role at KuCoin, Johnny will be mainly responsible for the day-to-day operations of KuCoin, KuMEX, Pool-X, as well as the expansion and prosperity of the KCS ecosystem.

­Before joining KuCoin, Johnny Lyu used to work in the e-commerce, auto, and luxury industry. Johnny has led the listing, business development and strategic investment team at KuCoin.

As Michael stated, more details about KuChain will be announced in the next few weeks.

Disclaimer: This is a paid post and should not be considered as news/advice.