Bitget Integrates DeFi Aggregator and Plans Expansion into Wallet Sector
Summary:
Bitget, a leading cryptocurrency exchange, has integrated a DeFi aggregator into its platform, providing users with expanded trading options and access to DeFi services via its Web3 wallet. The move is part of Bitget's broader strategy to extend into the wallet sector and offer asset management services and native storage. Following the acquisition and rebranding of BitKeep to Bitget Wallet, the exchange reported substantial growth in the first half of 2023. Bitget continues to expand within the crypto space, launching significant funds to support the growth of the Web3 ecosystem.
Bitget, a prominent cryptocurrency exchange, has recently integrated a DeFi (Decentralized Finance) aggregator into its platform. This integration equips users with the ability to exchange and access DeFi features through the Bitget's Web3 Wallet. The intended purpose of this move, notes Bitget, is to diversify trading alternatives available to users. As part of future expansion plans, Bitget plans to incorporate features such as non-custodial wallets, NFT marketplaces, and DApps, according to Managing Director Gracy Chen.
Chen further informed Cointelegraph that a majority of the currencies traded on their platform will also be accessible for DeFi transactions in the wallet. As per Chen's explanation, the swap function pools liquidity from ten DEXs, including Curve Finance, PancakeSwap, and Uniswap. "Our core strategy centers around our Web3 Wallet that enhances the secure storage, regulation, and administration of the user's digital assets. We have also introduced a Swap service which is a high-end DeFi aggregator," explained Chen.
Bitget has also noted that this recent integration feeds into a larger plan of expanding into the wallet segment. Such an expansion empowers Bitget to extend asset management services and inherent storage options to its user base. The Bitget Wallet was earlier known as BitKeep till Bitget acquired the service provider, necessitating the rebranding on July 25. Post-acquisition and integration, Bitget has reported a surge in certain metrics during the first half of 2023.
Always striving to branch out into various crypto realms, Bitget has been launching substantial funds to fuel the growth of the Web3 ecosystem. A $100 million fund was introduced on April 10 aiming at backing venture firms and investing in future Web3 projects. Furthermore, the Bitget EmpowerX Fund was launched on September 12 with another $100 million, intended to significantly impact by investing in regional exchanges, media companies, and analytics firms.
Published At
11/9/2023 9:27:46 AM
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