Bitget Invests $30M in BitKeep Broadening Its Ce-DeFi Ecosystem
BENGALURU, India, March 23, 2023 /PRNewswire/ — Bitget, the largest crypto copy trading platform, has announced a $30 million investment in BitKeep the decentralized multi-chain wallet, becoming its biggest stakeholder. The investment will allow the exchange to extend its range of centralized crypto services into a decentralized ecosystem. The sister companies will leverage their respective offerings and collaborate on linking CeFi and DeFi. The investment involves the merger of BitKeep Wallet with Bitget’s business domain, significantly bolstering its existing user base and product offering.
Founded in 2018, BitKeep has been providing uninterrupted and reliable non-custodial wallet, swap and NFT marketplace services to its user base of more than 8 million across 168 countries. The wallet supports 90 mainnet networks such as Bitcoin, Ethereum, BNB Chain, Polygon, and Solana, and over 250,000 types of assets across more than 20,000 dApps.
“This move is a win-win choice for Bitget and BitKeep and facilitates collaborative efforts in the decentralized space and beyond. We are not only delighted to provide the team at BitKeep with the necessary support to reinforce the security and stability of its offering services, but also excited to have such an established industry player as part of our growing ecosystem,” said Gracy Chen, Managing Director at Bitget.
As part of the deal, Bitget has invested $30 million in BitKeep, increasing its shareholding and becoming the primary stakeholder of the company valued at $300 million as per its previous funding round. The partnership with Bitget will give the wallet access to the exchange’s proven technology and security capabilities in the exchange domain, thus helping it improve the stability and security of its services.
By integrating BitKeep’s established 8 million user base, Bitget will receive access to an entirely new audience of potential clients. This is one of Bitget’s crucial moves towards Web3 which foresees linking CeFi and DeFi, transforming the platform from a leading contract exchange to a comprehensive and holistic exchange with its own ecosystem.
“The investment deal implies not only financial but also technical support, which will be provided to us by a professional team along with the experience necessary for product growth and market expansion. We are excited about this partnership and the potential it has to provide our users with even more comprehensive digital asset management services. We believe that working closely with Bitget will not only drive the growth of our business but also provide us with valuable experience exchange that will benefit our users,” said Moka Han, Chief Operating Officer at BitKeep
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange with futures trading and copy trading services as its key features. Serving over 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. It also inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi, the leading Italian football team Juventus, and official eSports events organizer PGL. According to Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.
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