Bitget, a leading cryptocurrency exchange, has launched BitEXC, a Vietnam-centric trading platform designed to cater to the country’s growing crypto market. Vietnam ranks second globally in cryptocurrency adoption, with over 21% of its population owning digital assets, according to Bitget.

The platform aims to bridge gaps in the local market by offering customized services, local customer support, and educational outreach. Bitget and BitEXC CEO Gracy Chen highlighted the platform’s mission to serve Vietnam’s unique crypto needs, emphasizing its role in fostering local engagement.

BitEXC launched with peer-to-peer (P2P) trading and plans to roll out spot and futures trading, copy trading, and an Earn program within three months. Payment integration with ViettelPay, Momo, and ZaloPay—popular local services—further simplifies transactions for Vietnamese users.

The platform is built on Bitget's infrastructure, with users benefiting from the $300-million Bitget Protection Fund, designed to shield against market volatility. This backing strengthens trust in BitEXC as it seeks to compete in a market where 90% of users prefer decentralized exchanges, based on a 2023 survey.

Vietnam’s pro-blockchain stance further supports BitEXC’s prospects. The Ministry of Information and Communications recently launched a National Blockchain Strategy, which includes the legal recognition of digital assets.

Bitget’s broader success underpins this expansion. The exchange boasts over 45 million users and reported a $700 million capital inflow in Q2 2024, alongside a 50% traffic surge. BitEXC’s launch coincided with Bitget listing Hedera (HBAR) on December 3, signaling its commitment to innovation.

If successful, BitEXC could dominate Vietnam's burgeoning crypto market, leveraging its local focus and robust global backing to capture significant market share.