Crypto
derivatives and copy trading platform , Bitget, has successfully secured its registration in Lithuania, allowing the company to provide crypto-related
services in the region in accordance with local regulations.
Lithuania
is fast becoming a significant player in Europe’s digital asset market, with
its progressive approach to cryptocurrency and blockchain projects. The country
is at the forefront of the EU’s crypto legislative landscape, attracting
numerous companies seeking to establish legal entities for their crypto
ventures.
Bitget’s Managing
Director, Gracy Chen, emphasizes the importance of adhering to and following
the diverse regulatory frameworks for digital assets. She states that the
company actively collaborates with governmental bodies to promote a healthy
ecosystem for the crypto industry.
“The
global regulation of digital assets is advancing on a daily basis, and we
actively observe the regulatory changes around the globe,” Chen commented
in a press release sent to Finance Magnates.
Over the
past year, quite a few companies have applied for cryptocurrency licenses in
Lithuania. Among them was the popular exchange Gate.io, which is seeking to
boost its global presence, and the crypto asset custody solution HyperBC.
Nearly three years ago, the country was one of the first in the world to
officially launch its own digital token, LBCOIN. A year earlier it allowed crypto-based investment funds to operate locally.
Bitget Supports Web3 Adoption
The crypto exchange
compliance team constantly monitors global regulatory changes to ensure the
company remains compliant with all relevant laws. Over the past 12 months, the
company’s compliance division has expanded by 50%.
Additionally, Bitget is focusing on promoting the digital assets space and its overall adoption.
These include an investment of $30 million in the decentralized multi-wallet
BitKeep and the establishment of a $200 million DApps innovation fund. Bitget is
also making significant progress in the Web3 space, as evidenced by the launch
of the $100 million Bitget Web3 Fund, aimed at promoting blockchain adoption
and supporting innovative startups in the industry.
Founded in
2018, Bitget is a crypto exchange with copy trading services as one of its key
features. It caters to over 8 million users in more than 100 countries.
Crypto Exchange Expands
Staff
In
November, Bitget announced that it registered a new office in Seychelles to
accelerate its global expansion. On top of that, the digital assets exchange wants to
increase its current workforce by 50%, reaching 1,200 employees this year.
Bitget’s
Seychelles branch was registered under the 2016 International Business
Companies Act, and in recent weeks, the cryptocurrency exchange has established
new branches in the LATAM and Asia markets as part of its ongoing corporate
expansion strategy.
According
to Chen, Seychelles is viewed as a welcoming region for the crypto community.
Bitget has been working on the registration process for several months and was
pleased to announce the development.
Reacting to
the market turmoil caused by the collapse of FTX last year, the platform
has decided to increase the value of its Protection Fund to $300 million. The
Protection Fund was originally introduced a few months earlier with an initial
stake of $200 million.
Crypto
derivatives and copy trading platform , Bitget, has successfully secured its registration in Lithuania, allowing the company to provide crypto-related
services in the region in accordance with local regulations.
Lithuania
is fast becoming a significant player in Europe’s digital asset market, with
its progressive approach to cryptocurrency and blockchain projects. The country
is at the forefront of the EU’s crypto legislative landscape, attracting
numerous companies seeking to establish legal entities for their crypto
ventures.
Bitget’s Managing
Director, Gracy Chen, emphasizes the importance of adhering to and following
the diverse regulatory frameworks for digital assets. She states that the
company actively collaborates with governmental bodies to promote a healthy
ecosystem for the crypto industry.
“The
global regulation of digital assets is advancing on a daily basis, and we
actively observe the regulatory changes around the globe,” Chen commented
in a press release sent to Finance Magnates.
Over the
past year, quite a few companies have applied for cryptocurrency licenses in
Lithuania. Among them was the popular exchange Gate.io, which is seeking to
boost its global presence, and the crypto asset custody solution HyperBC.
Nearly three years ago, the country was one of the first in the world to
officially launch its own digital token, LBCOIN. A year earlier it allowed crypto-based investment funds to operate locally.
Bitget Supports Web3 Adoption
The crypto exchange
compliance team constantly monitors global regulatory changes to ensure the
company remains compliant with all relevant laws. Over the past 12 months, the
company’s compliance division has expanded by 50%.
Additionally, Bitget is focusing on promoting the digital assets space and its overall adoption.
These include an investment of $30 million in the decentralized multi-wallet
BitKeep and the establishment of a $200 million DApps innovation fund. Bitget is
also making significant progress in the Web3 space, as evidenced by the launch
of the $100 million Bitget Web3 Fund, aimed at promoting blockchain adoption
and supporting innovative startups in the industry.
Founded in
2018, Bitget is a crypto exchange with copy trading services as one of its key
features. It caters to over 8 million users in more than 100 countries.
Crypto Exchange Expands
Staff
In
November, Bitget announced that it registered a new office in Seychelles to
accelerate its global expansion. On top of that, the digital assets exchange wants to
increase its current workforce by 50%, reaching 1,200 employees this year.
Bitget’s
Seychelles branch was registered under the 2016 International Business
Companies Act, and in recent weeks, the cryptocurrency exchange has established
new branches in the LATAM and Asia markets as part of its ongoing corporate
expansion strategy.
According
to Chen, Seychelles is viewed as a welcoming region for the crypto community.
Bitget has been working on the registration process for several months and was
pleased to announce the development.
Reacting to
the market turmoil caused by the collapse of FTX last year, the platform
has decided to increase the value of its Protection Fund to $300 million. The
Protection Fund was originally introduced a few months earlier with an initial
stake of $200 million.
