Bitget has recently announced a new funding round aimed at growing its ecosystem, investing in regional exchanges, and more. Additionally, this includes investments in analytics firms, media organizations, as well as several other entities that might contribute decently to the platform’s growth.
Bitget revealed the Bitget EmpowerX fund, which would invest a sum of $100 million into maximizing the company’s long-term impact within the crypto space. As per the announcement, Bitget believes that the diversification of services to meet the needs of a global user base is the key to expanding the native crypto ecosystem.
The managing director of the company, Gracy Chen, mentioned to the media that the company currently expects a series of additional investments, mergers, and acquisitions within the upcoming months as the centralized exchange landscape continues to evolve with the developments surrounding regulations. Chen continued to elaborate that the fund serves as a major step in the company’s mission to transform the platform into a comprehensive one, so it seamlessly caters to the changing needs of the people within the crypto landscape.
Bitget Looks Forward to Evolve and Grow
Apart from the recent funding round, Bitget also launched a $100 million Web3 fund for crypto projects in Asia in April this year. At the same time, the platform highlighted that it would continue to fund Web3 projects throughout the globe, simultaneously focusing on Asian projects with experienced teams working to solve real-world problems. The platform also announced mandatory KYC for users from the start of this month.
Over the course of the previous few years, the platform has been actively looking forward to evolving alongside the continuously changing crypto world. Some of the venture capital firms the platform has invested in as of now include Foresight Ventures, Dragonfly Capital, SevenX Ventures, Gitcoin Fund, DAO Maker, and ABCDE Capital.
Bitget is actively pushing forward its decentralized strategies as well. The platform announced a $30 million investment in the decentralized BitKeep multi-chain wallet back in March, and it was later rebranded to Bitget wallet. The move, therefore, established Bitget as the controlling shareholder in the wallet, marking a considerable leap forward within the decentralized space.
The platform is also working on strengthening its competitive edges within the centralized domain. It continuously optimizes the trading experience, enriches the product matrix, and steps up the overall membership cultivation efforts. The exchange currently plans to develop its native ecosystem by adding additional features to maintain user interest and drive new engagements.