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Bitget Takes Control of BitKeep to Connect DeFi and CeFi

Bitget Takes Control of BitKeep to Connect DeFi and CeFi

Cryptocurrency exchange Bitget has invested $30 million in BitKeep, a decentralized multi-chain wallet, acquiring a controlling stake in the company.

This move aims to broaden Bitget’s aim is to connect DeFi and CeFi, enhancing its user base and product offerings. The merger also aims to provide native storage and asset management services.

According to Gracy Chen, Bitget’s CEO, the company aims to offer innovative financial services within its infrastructure, rather than traditional banking services.

Chen believes that traditional payment banks and internet companies like Visa, Mastercard, and PayPal promoting channels for offline cryptocurrency payments will be a major key for mass adoption.

Bitget observed a surge in its derivative market share from 3% to 11% after last year’s woes, including the collapse of FTX. According to Chen, this can be attributed to innovative products, a safe and compliant platform, and dependable asset protection.

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To provide a secure and comfortable trading environment, Bitget has implemented various security measures, including regular updates, the Bitget Protection Fund launch, and the introduction of the Proof of Reserves page.

Bitget has also partnered with various sports organizations to build a better brand image and gain widespread awareness, as well as with Esports and entertainment industries, with plans to onboard more partners.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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