On March 22, cryptocurrency derivatives exchange Bitget advertisement a $30 million investment in the BitKeep multi-chain wallet, bringing its valuation to $300 million. The agreement will make Bitget the majority shareholder of BitKeep and will allow the latter “to access the exchange’s proven technology and security capabilities in the realm of trading platforms, thus helping it to improve the stability and security of its services.” Gracy Chen, CEO of Bitget, commented:
“As one of the most trusted cryptocurrency exchanges with a $300 million user protection fund, we know how much security and reliability mean to cryptocurrency users and we are confident that integrating our native solutions in this domain into BitKeep’s framework will reinforce its image as an attractive wallet.”
For his part, Moka Han, director of operations of BitKeep, added:
“The investment agreement involves not only financial, but also technical support, which will provide us with a professional team together with the necessary expertise for product growth and market expansion. We are excited about this partnership and the potential it offers our users”.
BitKeep is a popular self-custody wallet among users in the Asia-Pacific region, though it also has a significant global presence. In addition to providing access to decentralized financial protocols and non-fungible tokens, the wallet is known for its ability to process cross-chain exchanges of digital assets between different blockchains within the application itself. The firm says that the BitKeep wallet has surpassed 8 million users and supports more than 250,000 cryptocurrencies through 80 blockchains. Previously, in May 2022, BitKeep raised $15 million at a $100 million valuation, with Dragonfly Capital leading the investment.
“This is one of Bitget’s crucial moves towards Web3 entry as part of its new ‘Go Beyond Derivatives’ strategy, which envisions linking CeFi and DeFi, transforming the platform from a leading contract exchange to a comprehensive and holistic exchange with its own ecosystem.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.
