As part of its measures towards expanding its offerings across the globe, popular cryptocurrency exchange, Bitget unveiled a $30 million investment in BitKeep, a multi-chain wallet. The exchange announced the development in its Wednesday blog post. By virtue of this investment, the crypto exchange has now automatically emerged as a controlling stakeholder of BitKeep.
More so, Bitget aims to support the efficiency and security of Bitkeep services with the investment. Both firms believes the collaboration is a step forward in their quest to leverage and work together in building the gap between DeFi and CeFi.
According to the term of the agreement, BitKeep wallet will be merged with Bitget’s business domain. This is to preserve its already existing user base and product offering. Recall that the multi-chain wallet enjoys the patronage of more than 8 million users scattered across the world.
Bitget sees the deal as a reflection of one of its ambition to delve into the wallet territory. The firm is optimistic that the development will also drive its plan to provide native storage and asset management services to users. According to the exchange, its integration with Bitkeep means it will now have access to a new audience of potential users.
Meanwhile, Bitget managing director, Gracy Chen has reacted to the development. The executive described the move as a good omen for the decentralized space. Also, Chen expressed the delight of her team to work with BitKeep as an established industry player in its ecosystem. In addition, the executive hopes that the integration of Bitget native token into BitKeep domain will further enhance the image of the multi-chain wallet.
The Chief Operating Officer of BitKeep, Moka Han says the partnership with Bitget will go beyond the $30 million financial support. According to Han, Bitget will also providing technical support to the BitKeep team.
Previous partnership between BitKeep and Bitget
Interestingly, this is not the first time that both firms would be collaborating together to promote their services. Recall that in late 2022, Bitkeep partnered with Bitget to support its futures dApps. Then, Bitkeep listed Bitget DApp on its platform. As of now, the platform supports about 35 futures trading pairs such as BTC, USDT, ETH, among others. As revealed, this features are in place to allow users trade futures conveniently and efficiently.