Bitget, a leading player in the realm of crypto derivatives and copy trading, has laid out an ambitious expansion blueprint aimed squarely at the Middle East. This strategic venture, deeply rooted in the enterprise’s global scaling policy, promises to amplify the region’s budding crypto engagement.
Recognizing the Middle East as a burgeoning hub for digital currency activity, Bitget aspires to anchor its presence in this vibrant marketplace.
The thrust of this expansion entails the onboarding of sixty new employees, thereby augmenting the exchange’s personnel in a bid to broaden the reach of crypto to fresh demographics. It is a daring stride toward Bitget’s aspiration to foster increased crypto acceptance worldwide, as it strengthens its foothold in the global arena.
Bitget’s Foray Into The Middle East: A Strategic Initiative
The Middle East, particularly nations such as Bahrain and the United Arab Emirates (UAE), has captured Bitget’s interest. The exchange is set to delve into these territories, known for their progressive stance towards cryptocurrencies.
As part of this expansion, the company aims to establish a regional headquarters and cultivate a robust team to execute diverse mid-office and back-office tasks.
Bitget’s move into the Middle East isn’t arbitrary. The region has witnessed a remarkable surge in crypto adoption, holding 9.2% of the global transaction share between 2021 and 2022.
The UAE alone saw a 400% escalation in the registration of crypto enterprises during the same period, contributing to a global surge in digital asset trading, accounting for 10% of the global volume.
The Future of Bitget in the Middle East: Driving Global Crypto Adoption
Gracy Chen, Managing Director of Bitget, elucidated the expansion strategy, stating their hope to accelerate the Middle East team’s scale to support business growth. “This move is not just about business,” she emphasized, “it is about our core values, which rest on advancing blockchain and crypto adoption worldwide.”
A priority in Bitget’s Middle East plan is obtaining the necessary licenses to operate in the target markets, providing the much-needed regulatory scaffolding for the expansion. The crypto giant’s expansion blueprint in the Middle East trails its successful launch in Turkey earlier this year, which now flaunts a complete localization, including a dedicated Turkish website, Bitget TR.
Bitget’s aggressive expansion plan is emblematic of the company’s mission to augment the global crypto landscape. The Middle East represents an exciting new frontier for Bitget, where it can leverage the region’s burgeoning crypto activity to usher in a new era of growth and acceptance for the wider blockchain ecosystem.
