In a thread of tweets via its official handle, popular Web3 wallet, Bitkeep announced that in coming weeks it will change its name to Bitget Wallet. According to the announcement, the development will surface as part of a rebranding effort to have a “uniform visual presence as part of the Bitget ecosystem.”
Recall that last week, Bitkeep secured a $30 million investment from Bitget. Furthermore, Bitkeep indicated that its logo, application and website interface will reflect the changes in coming weeks. Also, the CEO of the Web3 wallet, Kevin Como will step down from the role. As announced, the current Chief Product Officer of Bitkeep, Karry Cheung will step up as the new CEO.
In the announcement, Bitkeep stated that the latest effort will go beyond extending the Bitget range of services. The Web3 wallet revealed that the investment from Bitget involves support for global expansion and security enforcement. The firm indicated that it’ll leverage Bitget’s expertise to improve its security infrastructure. Likewise, it will partner with security auditing firms such as Certik to further pursue the goal.
More so, Bitkeep illuminated how Bitget’s $300 million user Protection Fund will cover its users against potential security threats. Further, the announcement indicated how Bitget will send some of its experts to strengthen Bitkeep’s service stability and security. However, the firm emphasized that despite the support from Bitget, it’ll continue to operate independently.
Insight into Bitkeep and Bitget’s collaborative effort
It is noteworthy that this development comes barely a week after Bitget emerged as the major stakeholder of BitKeep. Certainly, the growing relationship between the two protocols remains a significant milestone in the efforts toward bridging the gap between DeFi and CeFi.
To Bitget, its investment in Bitkeep reflects one of its vision to enter into wallet-service provision territory. The exchange aims to leverage on the collaboration to also promote its plan to offer native storage and asset management services to users. Beyond this, this integration will allow Bitkeep to have access to a new audience of potential user base.
Meanwhile, it is interesting to note that the relationship between Bitget and Bitkeep started since late 2022. Then, both firms announced their first collaboration to promote futures dApps. Worthy of note that this collaboration led to the listing of Bitget dApp on Bitkeep. Presently, the platform supports more than 35 futures trading pairs, including BTC, USDT, ETH, and many more. Notably, it has a remarkable network for users to trade futures conveniently.