In a bid to strengthen its presence in the decentralized finance (DeFi) space, Bitget has made a significant investment of $30 million in the multi-chain wallet BitKeep, which has now become its controlling stakeholder. As part of the investment, BitKeep Wallet will be merged with Bitget’s business domain.
This will enable the exchange to broaden the scope of the services it provides while simultaneously assisting BitKeep in improving the reliability and safety of the products and services it provides. The merger is also intended to assist both businesses in capitalizing on their respective strengths and working together to combine DeFi and CeFi for the benefit of the larger crypto community.
BitKeep wallet was established in 2018, and since then, it has been offering its services of non-custodial wallet, swap, and NFT marketplace to its customer base of more than 8 million people in 168 countries. These customer-friendly services have been characterized as uninterrupted and dependable.
Collaborative Efforts in the Decentralized Space and Beyond
The wallet is compatible with 90 different mainnet networks, including Bitcoin, Ethereum, BNB Chain, Polygon, and Solana. Moreover, it can store over 250,000 different types of assets and is compatible with more than 20,000 different dApps. Talking about this significant milestone, Gracy Chen, Managing Director at Bitget, said: “This move is a win-win choice for Bitget and BitKeep and facilitates collaborative efforts in the decentralized space and beyond.”
The investment represents one of Bitget’s essential initiatives toward Web3 entry as part of the company’s new Go Beyond Derivatives strategy. This approach intends to combine CeFi and DeFi and transition the platform from a dominant derivatives exchange into a comprehensive and holistic platform with its own flourishing ecosystem.
Bitget is a centralized trading platform for crypto derivatives that is headquartered in Singapore. It was established in April 2018 by Bitget Group, a digital financial brand, with the intention of making it simple to acquire and trade digital assets. Bitget, which is recognized as one of the most prominent crypto exchanges in the world, is on a mission to encourage individuals all over the world to adopt cryptocurrencies and connect with the future.