Bitget has onboarded over 2.5M users in MENA region in the past six months - Chainwire

17Apr

Bitget has onboarded over 2.5M users in MENA region in the past six months

Victoria, Seychelles, April 17th, 2024, Chainwire

Bitget, the world’s leading cryptocurrency exchange and Web3 company, has released a report on the growth recorded in the Middle East and North African regions since its launch in November 2023. With over 2.5M users from the region alone, Bitget has now reached 25M users worldwide.

Last year, Bitget announced its expansion into the Middle East region with plans to establish its regional hub in the UAE and hire 60 employees as part of its global scaling strategy. In the last six months, Bitget has grown its MENA trading volumes by over 500% from its initial launch, aiming to bring in more localized solutions for its users.

Sam A Spiers, Regional Director for Bitget MENA, states: “Bitget will strengthen its operations in the MENA region, leveraging the region’s high adoption rates and crypto-friendly landscape. We are exploring blockchain and crypto projects to support home-ground projects for listing and providing more exposure to Middle Eastern founders and products.”

In February 2024, Bitget Research released a Bitcoin Halving report that highlighted over 80% of MENA investors considered the halving to have a significant price impact, while the recent Bitcoin bull run to renew its all-time high value was anticipated by 88% of respondents — more than in any other region.

The is higher optimism in comparison to the survey’s other regional participants, as MENA users were the most willing to increase their crypto holdings, with 82% reporting affirmatively. In contrast, the global average didn’t exceed 70%.

As part of its focus on the MENA region, Bitget has Arabic lingual support for its website and mobile application. Bitget users in the Middle East also benefit from zero fees for buying and selling cryptocurrencies through Bitget P2P, aiming to ensure a seamless and user-friendly experience for traders. This week Bitget partnered up with OnRamp, a leading crypto payment solution provider allowing its users to buy and sell crypto using various local currencies, including AED and other fiat currencies.

“With the MENA region representing a significant share of the global crypto transaction volume in 2023, it is poised to grow exponentially in the years to come. Bitget has already begun exploring license applications to operate in target Middle East markets. It’s our priority to obtain operating licenses and support our users with a secure WEB3 platform.” Gracy Chen, Managing Director of Bitget.

Bitget has been expanding its operational reach globally in recent months, including registering as a VASP (Virtual Asset Service Provider) in Poland and obtaining similar crypto registration in Lithuania. The new expansion plan in the Middle East compliments its launch in Türkiye, which now features full localization, including its Turkish website Bitgettr.com featuring tailored services for users in Türkiye.

Bitget’s growth plans go hand-in-hand with creating a seamless ecosystem of crypto products for users locally. By personalizing the platform offerings, Bitget recently launched a Ramadan campaign to celebrate the holy month with its users. Additionally, Bitget offers 0 fees for buying Bitcoin and Ethereum on spot trading along with free bank transfers.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.