Cryptocurrency exchange WEEX has announced its plans to raise funds in a new funding round with a valuation of $100 million. Leading the investment is FSN, a prominent Korean digital marketing giant. The capital raised will be primarily used by WEEX to expand its presence in the global cryptocurrency market while enhancing security measures for its users.
WEEX stands out as a user-friendly exchange that offers copy-trading services, allowing users to easily follow professional traders’ strategies with just a single click. This unique approach not only lowers the entry barriers for newcomers in futures trading but also increases their chances of success. Additionally, WEEX’s copy-trading feature supports the automatic synchronization of professional traders’ actions, enabling users to seize opportunities in the rapidly changing market without the need for constant monitoring, thus saving time and effort.
As a futures-focused exchange, WEEX is renowned for its trading depth and ranks among the world’s leading derivative exchanges in terms of liquidity. It consistently places in the top 5 for average liquidity on CoinMarketCap. The platform boasts thick order books, narrow spreads, and achieves millisecond-level matching, zero slippage, and zero intrusion. This ensures minimal trading costs and liquidity risks for users, providing them with a seamless and exceptional trading experience.
FSN, listed on KOSDAQ as the first South Korean advertising technology company, is the largest digital marketing group in South Korea. In 2022, FSN’s total advertising revenue reached approximately $388 million. The group’s focus extends beyond marketing, encompassing key business areas such as technology, commerce, and global ventures. FSN aims to become Asia’s largest integrated digital marketing company, with subsidiaries and business networks spanning East Asia and Southeast Asia.
With its impressive integrated marketing services and technological capabilities, FSN is venturing into industries beyond marketing and leading the way from AD-Tech to Web3 in future industries. The company has established a Web3 technology company called Fingerlabs, launched NFT projects like Sunmiya Club and Bellygom, introduced the NFT wallet Favorlet, and developed the NFT platform Xclusive.
FSN’s CEO, Lee Sang Seok, expressed strong confidence in the potential growth of WEEX in the cryptocurrency trading sector. If the investment plan proceeds as intended, it will create synergies with FSN’s existing Web3 business, contributing to continuous growth in technology and global presence for the company.
Established in 2018, WEEX is a futures trading platform that prioritizes security and user-friendliness. With over one million users and an average daily trading volume exceeding $1.5 billion, the platform actively expands its global strategic presence. WEEX holds licenses from the US MSB, Canadian MSB, and Saint Vincent FSA, demonstrating its commitment to providing professional, secure, and privacy-oriented trading services to global users. To further safeguard users’ funds, WEEX has set up a 1,000 BTC investor protection fund and publicly disclosed the hot wallet addresses of the fund.