On March 22, cryptocurrency derivatives exchange Bitget announced a $30 million investment in multi-chain wallet BitKeep at a valuation of $300 million. The deal will make Bitget the controlling shareholder of BitKeep and allow the latter "to gain access to the exchange's proven technology and security capabilities in the exchange space, helping it improve the stability and security of its services." Bitget Managing Director Gracy Chen commented:
"As one of the most trusted cryptocurrency exchanges with a $300 million user protection fund, we know how much security and reliability mean to cryptocurrency users and believe in integrating our native solutions in this space into BitKeep framework will enhance it as an attractive wallet." Meanwhile, BitKeep COO Moka Han added: "This investment deal means not only financial support, but also technical support, which will be provided to us by a professional team, as well as the experience needed for product growth and market expansion. We are very excited about this partnership and what it provides to our users. Excited about the potential."
BitKeep is a self-hosted wallet popular with users in the Asia-Pacific region, although it also has a considerable global presence. In addition to providing access to decentralized finance protocols and non-fungible tokens, the wallet is also known for its ability to handle cross-chain swaps of digital assets between different blockchains within the app itself. BitKeep Wallet has more than 8 million users and supports more than 250,000 cryptocurrencies across 80 blockchains, the company said. Previously, in May 2022, BitKeep raised $15 million at a $100 million valuation, led by Dragonfly Capital.
This is one of Bitget's key moves into Web3 as part of its new Go Beyond Derivatives strategy, which foresees bridging CeFi and DeFi, transforming the platform from a leading contract exchange to a comprehensive one with its own ecosystem exchange. "
