Bitget as one of the leading cryptocurrency exchanges is thriving to make its stand as the face of innovation in the crypto industry with the launch of new services and tools beneficial to its users.
In today’s news, the crypto exchange platform earlier today introduced a fund custody service — an innovative product that is built for the exchange’s professional investors and institutions.
“In addition to the security offered with our US$300 million Bitget Protection Fund and Merkle tree Proof of Reserves, we are proud to announce our Fund Custody service,” said Managing Director of Bitget, Gracy Chen.
Adding, “The new service, equipped with industry-grade security systems and dedicated wallet addresses for qualified users, shall further foster transparency and elevate safety for our users and their funds.”
Bitget Launches New Service to Boost Customers Funds Safety
Built for specific users, the fund custody service will provide dedicated wallets to qualified accounts with at least a total assets more than 100,000 USDT to maximize protection of the customer assets on the Bitget platform.
“Protecting our customers’ assets is, and always will be our top priority at Bitget. Ever since the collapse of some bad actors in the industry, we have taken a series of initiatives for heightened protection,” said Chen.
Notably, users would have to have a combined assets of more than or equal to 100,000 USDT in any of the platform’s wallets whether spot, futures, Bitget Earn, fiat currency, and leverage, to be qualified for the fund custody service.
After the criteria stated is detected and approved, the user will be offered a separate custodial wallet, having an entirely different dedicated address to check and withdraw funds separated from the main reserve.
According to Bitget, storing the asset in a separate wallet prevents the user’s funds from being affected by any unexpected disaster such as an exchange run, or other cybersecurity threats. The wallet assets are said to always be rounded on a daily basis to ensure the user still meets up with the criteria.
