Bitget, the cryptocurrency exchange specializing in copy trading, has announced the launch of its new $100 million fund, the “Bitget Web3 Fund”. This fund aims to stimulate the development of Web3, with a particular focus on Asia, a geographical area “at the forefront” of cryptocurrency regulation.
Bitget launches the Bitget Web3 Fund
Bitget, the cryptocurrency exchange platform with more than 8 million users and specialized in copy trading, has just unveil its new $100 million fund aimed at stimulating the development of Web3with an emphasis on Asia.
According to the press release, this sum constitutes a “ initial investment and the fund should be enhanced over time. According to the exchange teams, the “Bitget Web3 Fund” is completely self-fundeda consequence of an absence of debt and positive cash flow.
Gracy Chen, the platform’s general manager, whom we recently interviewed, explained the interest of the fund in a press release:
“We strive to support financial innovation in Asia and believe that our platform can serve as a reliable, convenient and secure link between the worlds of DeFi and CeFi. Our team of analysts has already defined the project selection criteria and will strictly adhere to them. »
Moreover, Bitget reveals to be in talks with many venture capitalists (VC) in order to enter into solid partnerships and benefit from their expertise to support the promising projects of tomorrow. Some names have been revealed, such as Dragonfly Capital, Foresight Ventures, SevenX Ventures, DAO Maker or even ABCDE Capital.
The focus on Asia is explained, according to Bitget, by a regulation “ at the forefront in the sector, particularly in Hong Kong and Singapore. Despite this, the fund in no way refrains from supporting young start-ups in other geographical sectorsexplaining that “ blockchain is, and always will be, borderless “.
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Bitget multiplies ads
In line with its “Bitget goes beyond derivatives” program, Bitget has continued to expand its aura since its creation in 2018. Having first and foremost made itself known for the quality of its copy trading products, in particular with its flagship product “Bitget One-Click Copy Trade”the exchange has multiplied its services, which has led to its adoption in more than a hundred countries around the world.
Intended for users of all levels, Bitget’s Innovation Zone also allows investors to have access to carefully selected tokens across different verticals such as non-fungible tokens (NFT) or artificial intelligence (AI), which also allows them to have access to the cryptocurrencies of the moment in one click.
At the crossroads of decentralized finance (DeFi) and CEX, Bitget also integrates a launchpad, staking tools or even a wallet via its BitKeep wallet, which will soon become Bitget Wallet.
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Source: Press release
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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