Bitget Unveils $100 Million Web3 Fund For Backing Upcoming Crypto Ventures In Asia

Apr. 10, 2023
Bitget Unveils $100 Million Web3 Fund For Backing Upcoming Crypto Ventures In Asia

Bitget, a prominent cryptocurrency exchange worldwide, has introduced the Bitget Web3 Fund, which is backed by an initial investment of $100 million, according to the report.

The fund aims to facilitate the growth of the next wave of cryptocurrency projects by investing in promising Web3 ventures and startups in Asia and worldwide. These ventures and startups should be compatible with the Web3 ecosystem.

The fund’s launch took place during Hong Kong Blockchain Week. Bitget expressed its commitment to fostering a positive attitude towards the crypto economy and supporting the development of Web3.

Bitget’s ‘Go Beyond Derivative’ Strategy

As part of its ‘Go beyond derivative’ strategy for 2023, Bitget is committed to supporting the adoption of crypto. In the past few months, the exchange has procured numerous Web3 applications and has demonstrated its backing for Juventus as a sleeve sponsor and a major sponsor for the Juventus Women’s Team in the upcoming 2022-2023 season.

Additionally, the exchange has acquired BitKeep wallet, a Web3 gateway with 9.5 million users. This highlights its exclusivity and is a significant step towards the Web3 sector. Moreover, the procurement will bolster the Web3 browsing experience for Bitget clients. The exchange will introduce events and challenges to encourage individuals and promote community among its users.

Bitget’s Managing Director, Gracy Chen, stated:

We can see that Web3 space is evolving rapidly and many projects deserve the support to further advance such development and make Web3 a truly global phenomenon, as Web2 had once become. That is why the Bitget Web3 Fund will strive to seek out projects that have the most impact on this process. We are taking a fully conscious and responsible approach in this regard and know how important accountability is when dealing with any innovative project requiring investments.

Bitget’s commitment to supporting the adoption and advancement of cryptocurrencies has seen it collaborate with credible partners. In addition, the partners are legendary Argentinian footballer Lionel Messi, the Italian football team Juventus, and the official eSports events organizer PGL. Per the Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.

Furthermore, launching the Bitget Web3 Fund is a significant move towards advancing the adoption of cryptocurrencies in Asia and globally. By supporting the development of the Web3 environment, Bitget is positioning itself as a leader in the crypto space and fostering a positive attitude towards digital currencies.

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However, Bitget is positioning itself as a trustworthy, efficient, and secure bridge between the domains of DeFi and CeFi, encouraging people to adopt cryptocurrency and trade more intelligently. Additionally, this strategy sets Bitget apart as distinctive and unparalleled in the industry.

Ammar Raza

Associate editor
Skilled in crafting compelling content, with a deep enthusiasm for blockchain technology. I offer precise and easily comprehensible perspectives on cryptocurrencies, decentralized finance, and the ever-evolving landscape. Count on me as a reliable resource to remain informed about the latest advancements in the world of crypto.