San Francisco-based crypto venture firm Dragonfly Capital has announced that it has made a $10 million strategic investment in Bitget.
This investment by Dragonfly Capital comes just after Bitget acquired the crypto asset wallet BitKeep. BitKeep claims to be the largest crypto wallet in Asia with 9.5 million users, while Seychelles-based Bitget, founded in 2018, has eight million users.
Bitget Plans to Grow Launchpad Initiative
Bitget is a platform that mainly serves customers in Asia, Latin America and Europe.
Known as a futures trading hub, this platform was among the top three derivatives exchanges in a report by Boston Consulting Group in July 2022. Cryptocurrency data aggregator CoinGecko, on the other hand, ranks Bitget fifth among derivatives exchanges ranked by open interest and trading volume.
Bitget plans to expand its product range, according to the announcement made today. Bitget, which aims to expand the Launchpad initiative, will use the $10 million funding provided by Dragonfly Capital for this purpose.
In the announcement, it was stated that the $10 million funding will also be used for global initiatives to increase the adoption of crypto assets. Bitget has signed deals with Lionel Messi and Italian club Juventus in the past two years.
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