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- 1 Crypto Exchange Bitget operates in 50 countries with a user base of over 2 million.
- 2 The partnership will enable clients to trade and settle transactions in real time.
Cryptocurrency exchange Bitget announced that it has collaborated with Cooper, a Singapore based digital asset custody service provider. The partnership was made with an aim to offer an off-exchange settlement service to institutional clients. The Cooper-Bitget partnership will enable clients to trade and settle transactions in real-time.
Bitget is one of the industry’s leading centralized crypto trading platforms, with an active user base of over two million users. It is important to note that users’ resources will be deposited on the Cooper platform and then linked to Bitget accounts. Bitget accounts instantly reflect this balance.
Bitget enables users to trade more than 450 coins and 580 trading pairs. The API (Application Programming Interface) automatically updates the balance between these two accounts.
Cooper’s financial risk team monitors these collaterals 24 hours a day and seven days a week.
In an official statement, the Chief Executive Officer of Bitget said, “Leading Institutional cryptocurrency investors are mainly looking for a way to protect their holdings and optimize trading.” He added that Bitget’s partnership with Cooper demonstrates the continued efforts made by the community to build trust among institutional investors.
Significant Events for Bitget in 2023
The Seychelles-based crypto exchange announced on April 27, 2023, that it has reached a strategic partnership with Fetch.ai(a leading artificial intelligence blockchain platform. Moreover, it will pledge $10 million to support Artificial Intelligence.
On April 10, 2023, TheCoinRepublic reported that during the Hong Kong Blockchain Week, Bitget announced the allocation of $100 million for Web3-friendly venture capital firms and supporting next-generation crypto projects.
Recently, on April 21, 2023, the exchange completed registration in Lithuania. The registration will enable the exchange to offer crypto-related services in compliance with Lithuanian regional laws and regulations. It will expand operations across Europe with Lithuania as base.
Lithuania is among one of Europe’s fast-emerging digital currency markets. The small country will support the crypto exchange to reach more international users simultaneously. Lithuania is popularly known for developing crypto and blockchain projects.
As per CoreDAO and Bitget, the Ecosystem Fund, supported by MEXC and Bitget collaboration, aims to support the early-stage project financially. The financial support will empower the development, marketing, community building, recruitment, and other mandatory services.
Bitget Exchange intends to become the only validator of Core Network and aims to back Core staking on its platform. As of April 10, Bitget claims to function in 40+ regions globally and intends to launch operations in Indonesia, Vietnam, and the Philippines.
The scars of the FTX collapse may help Bitget’s case as a centralized exchange as FTX was touted as one of the best decentralized exchanges.
In just 72 hours, FTX’s downfall wiped out around $120 billion from the crypto market. Bitcoin, Ethereum, and Solana were among the most affected digital currencies at the time of the collapse.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
