Bitget integrates a DeFi aggregator into a crypto exchange application
Crypto Exchange Bitget integrates a decentralized finance (DeFi) aggregator into a crypto exchange application, allowing users to exchange their tokens and access DeFi services through Web3 Wallet.
According to Bitget, the effort aims to provide users with options to trade their crypto assets on the exchange. According to Gracie Chen, managing director of Bitgate, the app will gradually add other services, including a non-custodial wallet, a passive marketplace and a decentralized application.
Chen also told Cointelegraph that most of the currencies listed on the exchange are available in wallets for DeFi trading. According to Chen, the swap feature aggregates liquidity from 10 decentralized exchanges, including Uniswap, PancakeSwap and Curve Finance. Chen explained:
“The latest integration is our main Web3 wallet, which facilitates secure storage, management and control of their digital assets. Alongside the wallet, we launched the Swap service, an advanced DeFi aggregator.”
In a recent announcement, Bitgate said that the new merger is part of a broader move to expand its business into the wallet sector. According to Bitget, it enables the company to offer asset management services and native storage to its users.
On July 25, the crypto wallet BitKeep was transformed into Bitget Wallet after Bitget acquired the wallet service provider. After the merger, Bitgate showed significant growth on certain metrics in the first half of 2023.
Related: Bitget exec says KYC is useful for screening out illegal users.
The crypto exchange is constantly trying to increase its reach in the crypto space by launching a multi-million dollar fund to support the development of the Web3 ecosystem. On April 10, the exchange launched a $100 million fund to support venture companies and invest in the next Web3 projects.
On September 12, Bitget launched another $100 million fund called the Bitget EmpowerX Fund. This will invest the money in analytics firms, media firms and regional exchanges to grow the firm's “long-term impact” in the space.
Magazine: Slumdog Billionaire: The Incredible Rags-to-Rich Story of Polygon Sandeep Nelwal
