VICTORIA, Seychelles – Bitgetthe largest crypto copy trading platform, has made a $30 million investment in the decentralized multi-chain wallet of BitKeep announced with multiple blockchains and becomes the controlling stakeholder. The deal will allow the exchange to expand its service offerings while supporting BitKeep in improving the stability and security of its offerings. It also aims to help both companies leverage their strengths and work together on connecting DeFi and CeFi.
The investment includes the merger of BitKeep Wallet with Bitget’s business domain, significantly strengthening its existing user base and product offering. Founded in 2018, the BitKeep wallet provides uninterrupted and reliable non-custodial wallet, swap and NFT marketplace services to its user base of over 8 million in 168 countries. The wallet supports 90 mainnet networks such as Bitcoin, Ethereum, BNB Chain, Polygon, and Solana, and more than 250,000 asset types in more than 20,000 dApps.
As part of the deal, Bitget invested $30 million in BitKeep, increasing its shareholding and becoming the controlling stakeholder of the company, valued at $300 million during the previous round of funding. The partnership with Bitget gives the wallet access to the exchange’s proven technology and security capabilities in the exchange domain, enhancing the stability and security of its services.
The investment in the wallet is an important step for Bitget as it will expand its business territory into the wallet sector and help provide native storage and asset management services. By integrating BitKeep’s established user base of 8 million, Bitget gains access to a whole new audience of potential customers. This is one of Bitget’s critical steps towards accessing Web3 as part of its new Go Beyond Derivatives strategy, which envisions pairing CeFi and DeFi, transforming the platform from a leading contract exchange to a comprehensive and holistic exchange with its own ecosystem.
Gracy Chen, managing director at Bitget, had this to say about the investment:
“This move is a win-win choice for Bitget and BitKeep and facilitates collaborative efforts in the decentralized space and beyond. Not only are we excited to provide BitKeep’s team with the necessary support to strengthen the security and stability of its service offerings, but we are also excited to have such an established player in the industry part of our growing ecosystem. As one of the most trusted crypto exchanges with a $300 million user protection fund, we know how much security and reliability mean to cryptocurrency users and are confident that integrating our native solutions in this domain into the BitKeep framework will enhance its image. as an attractive wallet.”
Moka Han, Chief Operating Officer at BitKeep, also shared her thoughts on the importance of the investment for users, adding:
“The investment agreement implies not only financial but also technical support, which will be provided to us by a professional team together 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 sharing that will benefit our users.”
BitKeep’s impressive suite of services goes far beyond a crypto wallet. It allows users to access various DeFi protocols and NFT projects in various blockchains through the integrated dApp explorer, enabling seamless and effortless interactions with crypto transactions. It also supports NFT marketplace, launchpad and swap function. As a purpose-built solution with diverse capabilities, BitKeep will propel Bitget further into the Web3 space once the integration is complete.
In May 2022, BitKeep announced a $15 million fundraiser at a $100 million valuation. Dragonfly Capital led the round with participation from KuCoin Ventures, A&T Capital, Foresight Ventures, SevenX, Matrixpor, Bixin Capital, Danhua Capital, Peak Capital and YM Capital.
About Bitget
Founded in 2018, Bitget is the world’s leading crypto exchange with copy trading and futures services as its main features. The exchange serves more than 8 million users in more than 100 countries and regions and is committed to helping users trade smarter by providing a secure, comprehensive trading solution. It also inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentine soccer player Lionel Messi, leading Italian soccer team Juventus, and official eSports event organizer PGL. According to Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.