Bitget Invests US$30M In Multi-Chain Wallet BitKeep
VICTORIA, Seychelles, March 22, 2023 /PRNewswire/ -- Bitget, the largest crypto copy trading platform, has announced a $30 million investment in the decentralized BitKeep multi-chain wallet, becoming its controlling stakeholder. The deal will allow the exchange to extend its range of services while also supporting BitKeep in enhancing the stability and security of its offerings. It's also aimed at helping both companies to leverage their strengths and collaborate on linking DeFi and CeFi.
The investment involves the merger of BitKeep Wallet with Bitget's business domain, significantly bolstering its existing user base and product offering. The BitKeep wallet was founded in 2018 and 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.
As part of the deal, Bitget has invested $30 million in BitKeep, increasing its shareholding and becoming the controlling stakeholder of the company evaluated at $300 million during 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.
The investment announcement will be publicly made by the Bitget executives at Paris Blockchain Week. The deal is an important move for Bitget, as it will expand its business territory to the wallet sector and help it provide native storage and asset management services. By integrating BitKeep's established 8 million user base, Bitget will be receiving access to an entirely new audience of potential clients. This is one of Bitget's crucial moves towards Web3 entry as part of its new Go Beyond Derivatives strategy, which foresees linking CeFi and DeFi, transforming the platform from a leading contract exchange to a comprehensive and holistic exchange with its own ecosystem.