Bitget Invests $30 Million in BitKeep Wallet

The cryptocurrency exchange Bitget invested $30 million in the BitKeep wallet at a $300 million valuation, becoming its controlling shareholder. This was reported in the exchange’s blog.

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BitKeep is a decentralised multi-chain wallet supporting more than 80 networks. The partnership with the service is part of Bitget’s strategy to build an ecosystem of centralised (CeFi) and decentralised (DeFi) financial products.

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As part of the deal, BitKeep will integrate with the exchange’s business domain to bolster security of the service, and Bitget will be able to provide non-custodial custody of assets.

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Bitget’s Chief Executive Officer Gracie Chen said the move would create new opportunities for both companies:

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\”We are pleased that a recognised industry player has joined the growing ecosystem of the cryptocurrency exchange, and we are committed to providing the BitKeep team with support to improve the quality of the services provided. I am confident that deploying the solutions of one of the most reliable exchanges, backed by a $300 million user-protection fund, will strengthen BitKeep’s standing in the crypto market.\”

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BitKeep’s Chief Operating Officer Moka Han also praised the collaboration with Bitget:

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\”This deal entails not only financial but also technical support from a professional team. We will gain unique experience required to improve the product’s quality, grow the business, and enter new markets.\”

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Bitget is a cryptocurrency exchange offering spot, futures, P2P and OTC trading. The platform is actively developing services for social trading: copy trading and the Bitget Insights platform for publishing trading ideas.

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Earlier Bitget increased the guaranteed yield of Shark Fin products to 5% per year.