Bitget Launches $100M Web3 Fund to Support Next Generation Crypto Projects in Asia

VICTORIA, Seychelles, 10 April 2023 /PRNewswire/ — Bitget, a top crypto derivatives and copy trading platform, launched its Bitget Web3 Fund during Hong Kong Blockchain Week, with an initial investment of 100 million dollars. The fund will focus on investing in Web3-friendly venture capital and outstanding Web3 projects, with the aim of supporting the development of next-generation crypto projects.

The Bitget exchange follows a “Go beyond derivative” strategy in 2023 with the launch of the Bitget Web3 Fund, which is intended to promote a positive attitude towards the digital currency economy and support the development of the Web3 environment. Bitget Web3 Fund will seek out VCs and projects globally, but prioritize partners in Asia that have a clear roadmap and an experienced team, and those that offer innovative solutions to real-world problems. As of now, it has received inquiries from VCs including Foresight Ventures, Dragonfly Capital, SevenX Ventures, DAO Maker and ABCDE Capital for potential partnerships.

“We can see that the Web3 space is developing rapidly and many projects deserve support to further promote such development and make Web3 a truly global phenomenon, as Web2 had once become. Therefore, the Bitget Web3 Fund will strive to seek out projects that has the most impact on this process. We take a fully conscious and responsible approach in this regard and know how important accountability is when dealing with any innovative project that requires investment. We strive to support financial innovation in Asia and believe that our platform can act as a reliable, convenient and secure link between the worlds of DeFi and CeFi. Our team of analysts has already outlined the project selection criteria and will follow them strictly, as Gracie ChenCEO of Bitgetcommented on the launch of the new fund.

Bitget has been a supporter of a number of endeavors aimed at promoting the use of cryptocurrencies. The new ‘Go beyond derivatives’ strategy prompted the exchange to purchase several Web3 applications in recent months and pledge its support as a sleeve sponsor to Juventus, and as a general sponsor of the Juventus Women’s Team for the 2022-2023 season. In a major move into the Web3 space, the exchange recently acquired the BitKeep wallet – a Web3 access port with over 9.5 million users, which will further enhance the Web3 browsing experience for Bitget users. Bitget also launches a number of events and challenges for the community to support both individual initiatives and the general community spirit.

About Bitget

Bitget was established in 2018 and is the world’s leading cryptocurrency exchange with futures trading and copy trading services as key functions. 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. It also inspires individuals to embrace crypto through collaboration with credible partners, including legendary Argentine soccer player Lionel Messi, the leading Italian football team Juventus, and the official eSports organizer PGL. According to Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.

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SOURCE Bitget