- Bitget has inaugurated its $100 million EmpowerX Fund, aimed at nurturing a diversified crypto ecosystem, encompassing trading, investment, and media services.
- The fund plans to target regional exchanges, data analytics firms, and media organizations, strategizing to address the diverse needs of its 20 million global users.
- Bitget maintains a strong focus on security, implementing mandatory KYC verifications to foster a safe crypto trading environment.
Bitget, a leading crypto derivatives exchange, has introduced its $100 million EmpowerX Fund, a venture set on enhancing and diversifying its already robust ecosystem. The announcement was made during Bitget’s fifth-anniversary summit in Singapore. This marks a significant milestone in its journey to craft a multi-dimensional ecosystem that houses trading, investment, research, DeFi, and media services.
Focused on advancing the crypto platform’s ecosystem, the EmpowerX Fund intends to channel investments into regional exchanges, data analytics firms, media organizations, and other pivotal entities. Bitget envisions leveraging the diverse services it offers to meet the diverse needs of its 20 million global customers.
Gracy Chen, Bitget’s Managing Director, highlighted the dynamic nature of the Centralized Exchange (CEX) landscape, pointing out that the ongoing changes influenced by regulatory shifts, Layer 2, and DeFi technologies signal prospective investments, mergers, and acquisitions in the imminent future.
“The launch of the Bitget EmpowerX Fund takes us a major step closer to developing Bitget into a truly comprehensive platform for all needs,” Chen remarked. Rooted in the philosophy of fostering long-term growth, Bitget aspires to continually expand its service ecosystem to better cater to the evolving needs of users and empower others in the industry.
Beyond Derivative Strategy and Collaborative Ventures
Bitget has been unyielding in its pursuit to evolve with the dynamically changing crypto realm. Earlier in the year, the Seychelles-based exchange initiated the $100 million Web3 Fund, targeting primarily Asia-based projects while collaborating globally with venture capitals like Foresight Ventures, SevenX Ventures, and Gitcoin Fund.
Furthering its decentralized strategies, Bitget invested $30 million in the decentralized BitKeep multi-chain wallet, becoming a controlling stakeholder and later rebranding it to Bitget Wallet. This decisive move marks Bitget’s substantial leap in the decentralized space, indicating the firm’s ‘go beyond derivatives’ strategy. In the centralized domain, Bitget has been continually optimizing the trading experience, enriching the product matrix, and enhancing membership cultivation.
Commitment to Security through Mandatory KYC
In adherence to global regulatory prerequisites in the crypto sector, Bitget has mandated Know-Your-Customer (KYC) verification for all users, a move embraced to forge a secure crypto trading environment. The evolving regulatory landscape, as noted by Chen, implies that KYC protocols would progressively tighten, necessitating multiple verifications yearly coupled with an increased reliance on biometric data.
Steadfast in its mission since its inception in 2018, Bitget aims to facilitate smarter trading solutions, working towards a secure, intuitive, and efficient financial future. Collaborating with influential partners, including Lionel Messi and the official eSports events organizer PGL, the exchange encourages individuals globally to embrace the crypto revolution.
