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.