• Bitget announced a $30 million investment into the multichain wallet BitKeep at a $300 million valuation.
• The deal will allow the wallet to access Bitget’s technology and security capabilities, boosting its image as an attractive wallet.
• BitKeep is a self-custody wallet known for its ability to process cross-chain swaps of digital assets between different blockchains within the application itself.
Bitget Invests in Multichain Wallet BitKeep at $300 Million Valuation
On March 22, cryptocurrency derivatives exchange Bitget announced a $30 million investment into the multichain wallet BitKeep at a $300 million valuation. This move comes after the firm raised $15 million at a $100 million valuation in May 2022.
Security and Reliability For Cryptocurrency Users
Gracy Chen, managing director at Bitget, commented that this move will provide users with “security and reliability” when dealing with cryptocurrencies. Moka Han, chief operating officer at BitKeep, added that this partnership offers not only financial but also technical support for product growth and market expansion.
What is BitKeep?
BitKeep is a popular self-custody wallet among users in the Asia-Pacific region as well as globally. Apart from providing access to decentralized finance protocols and non-fungible tokens (NFTs), the wallet is known for its ability to process cross-chain swaps of digital assets between different blockchains within the application itself. The company reports that it has surpassed 8 million users and supports more than 20 public chains like Ethereum (ETH) and Binance Chain (BNB).
Benefits of Investment Deal
The investment deal provides both financial as well as technical support which will help improve stability and security services offered by their platform. Furthermore, it can help expand their user base even further by introducing advanced features like cross-chain swapping experience between different blockchains in one app itself.
The recent investment into multichain wallet provider, Bitkeep shows that there is still demand for secure and reliable wallets for cryptocurrency users around the world despite increasing competition in this sector of fintech space. With access to proven technology from one of most trusted exchanges coupled with advanced features like cross-chain swapping experience, we are likely to see more development from this project moving forward.