Bitget, a prominent player in the crypto exchange market, has taken a bold step in transforming its platform by incorporating a cutting-edge decentralized finance (DeFi) aggregator directly into its exchange application. This pivotal upgrade empowers users to effortlessly exchange tokens and utilize DeFi offerings, all within the convenient confines of Bitget’s Web3 Wallet.
The initiative is part of Bitget’s broader strategy to enrich its trading ecosystem, offering users a more dynamic trading experience. Gracy Chen, the managing director, envisions the application evolving further to encompass a variety of additional features, including a noncustodial wallet, a marketplace for nonfungible tokens (NFTs), and access to a range of decentralized applications. This move aims to position Bitget as a one-stop solution for digital asset management.
Chen also emphasized that the wallet will support numerous currencies listed on the exchange for DeFi trading. The newly introduced swap function is particularly noteworthy, aggregating liquidity from over ten decentralized exchanges, among them Uniswap, PancakeSwap, and Curve Finance. This service represents a major leap in facilitating efficient and secure DeFi transactions for Bitget users.
The expansion into wallet services marks a significant milestone, especially after the rebranding of BitKeep to Bitget Wallet subsequent to its acquisition. This strategic move has been met with robust growth in various performance metrics throughout the first half of 2023.
Beyond enhancing its trading platform, Bitget is heavily invested in the growth of the Web3 sector. Earlier in the year, the exchange launched a $100-million fund dedicated to supporting venture firms and pioneering Web3 projects. More recently, the Bitget EmpowerX Fund was established with another $100 million earmarked for investments aimed at maximizing the company’s long-term impact within the industry, focusing on analytics, media, and regional exchanges.
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