Bitget Targets Middle East as Next Region for Business Expansion
VICTORIA, Seychelles, July 20, 2023 — Bitget, top crypto derivatives and copy trading platform, has unveiled its expansion plans into the Middle East region. This will involve hiring 60 new staff members as part of the exchange’s overall global scaling strategy, which entails the advancement of crypto penetration and adoption across new audiences.
Bitget is preparing to launch representative initiatives in the Middle East, considering the region’s attractiveness as a prime hotbed of crypto activity. Among the countries the exchange is intending to explore are Bahrain and the UAE, including such as the crypto-friendly emirates of Dubai, Abu Dhabi, and Ras Al Khaimah. The expansion foresees the setting up regional headquarter, as well as the recruitment of new team members who will be assigned various mid-office and back-office functions.
Recent statistical data on MENA region crypto adoption indicates that it is home to the fastest-growing cryptocurrency industry, taking up a 9.2% share of global transactions in the period from 2021 to 2022. The UAE alone experienced 400% growth in the number of registered crypto businesses between 2020 and 2022, leading to a surge in global digital asset trading, accounting for 10% of global volume. In addition, the region saw a 300% increase in blockchain-related educational programs and accounts for as much as 8% of all mining hash rates.
“We hope to scale our Middle East team rapidly to support business growth, with between 30 to 60 hires over the next 2 years or more across the Middle East region. New team members will include various mid-office and back-office functions. We may consider selecting Dubai as an operational hub for the Middle East market. This move is not just about business, it is about our core values, which rest on advancing blockchain and crypto adoption worldwide,” as Gracy Chen, Managing Director of Bitget, commented on the announcement.
Bitget has already begun exploring license applications in order to operate in target Middle East markets. Gaining proper licenses and regulatory approval is a top priority to support expansion and allow the company to open regional offices.
Bitget has been scaling its operational reach globally in recent months, including the registration as VASP (Virtual Asset Service Provider) in Poland and similar crypto registration in Lithuania. The new expansion plan in the Middle East region comes on the heels of Bitget's launch in Turkey earlier this year, which now boasts a full localization including its Turkish website, Bitget TR, to provide localized services for users in Turkey.
About Bitget
Established in 2018, Bitget is the world's leading cryptocurrency exchange that offers Copy Trading services as one of its key features. Serving over 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord
For media inquiries, please contact: media@bitget.com
- Press releaseBitget Adds Bitget Token (BGB) Liquidity Pool on Uniswap Enhancing DeFi Trading Victoria, Seychelles, 17th January, 2025 – Bitget, the leading cryptocurrency exchange and Web3 company has added its native Bitget Token (BGB) on a liquidity pool on Uniswap, a leading decentralized exchange. This strategic move enables users to trade BGB directly on the Ethereum blockchain, enhancing its accessibility within the decentralized finance (DeFi) ecosystem. Uniswap operates on an automated market maker (AMM) model, utilizing liquidity pools to facilitate token swaps without relying2025-01-17
- Press releaseBitget LaunchX to Support Jambo’s $5 Million Fundraising for Satellite Launch ProgramVictoria, Seychelles, January 17, 2025 – Bitget, the leading cryptocurrency exchange and Web3 company, is proud to announce the upcoming LaunchX event for Jambo, the world’s largest on-chain mobile network. Jambo aims to raise $5 million through a token sale on Bitget LaunchX to fund its ambitious satellite launch program, an initiative designed to connect a global network of JamboPhones and expand access to decentralized services. Jambo is a global leader in the blockchain ecosystem through i2025-01-17
- Press releaseBitget Sets New Standards in Pre-Market Trading with Record Volume and Global Reach 50+ Coins Listed, 187K+ Active Traders, and Over $50M in Pre-Market Volume Drive Leadership Position Victoria, Seychelles, 12th December 2024 – Bitget, the leading cryptocurrency exchange and Web3 company, is proud to announce its rapid rise as a frontrunner in pre-market trading. With over 50 coins listed, a thriving community of 187,000 active traders, and pre-market trading volumes surpassing $50 million, Bitget is redefining the early trading experience for both traders and blockch2024-12-19