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Bitget puts in $100 million to help Asia’s web3 ecosystem

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Bitget puts in $100 million to help Asia’s web3 ecosystem


The fund will primarily be used for investing in Web3 venture capital companies and projects that offer unique value.



The fund

The Bitget Web3 reserve is a piece of Bitget’s “go past subsidiary” procedure set for 2023. Bitget’s goal as part of this strategy is to become more than just a trading platform and become a “reliable, convenient, and secure link” between the DeFi and CeFi worlds.

The fund aims to promote a positive view of the Web3 ecosystem and digital currencies in addition to providing financial support for its development.

Bitget Overseeing Chief, Gracy Chen, accentuated the requirement for such drives and expressed:

“We can see that Web3 space is evolving rapidly and many projects deserve the support to further advance such development and make Web3 a truly global phenomenon, as Web2 had once become.

That is why the Bitget Web3 Fund will strive to seek out projects that have the most impact on this process.”

Bitget is aware of the significance of accountability in the Web3 space, according to Chen. As a result, she reassured the community that Bitget is “taking a fully conscious and responsible approach” when dealing with investments, thereby achieving its goal of positioning itself as a reliable link between Web3 and conventional finance.





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Asia Crypto


Despite the fact that the declaration says that the asset will principally hope to advance Web3 drives situated in Asia, it doesn’t reveal the justification for why.

Bitget produced a report in collaboration with Boston Consulting Group (BCG) and Foresight Ventures in July 2022 regarding the possibility of crypto expansion. The study came to the conclusion that the actual expansion of crypto was still to come. In addition, its estimates identified Asia-Pacific and Latin America as the regions with the greatest potential for crypto expansion.

When determining next steps, Bitget took these findings into account. In Feb., Bitget collaborated with a fintech organization situated in Latin America to take part in Brazil’s and Argentina’s national bank computerized money (CBDC) projects. With the Bitget Web3 fund, it is now entering the Asia-Pacific area.

Additionally, prominent crypto executives concur that Asia has the potential to lead the expansion of cryptocurrencies in the future. In an exclusive interview with CryptoSlate’s Akiba in March, Sora Ventures founder Jason Fang discussed Asia’s potential to be the primary driving force behind the subsequent crypto bull run.

Fang asserts that Asia’s lenient regulations make it simpler for startups to recruit customers. Additionally, Web3 businesses benefit from a greater degree of adaptability and potential due to the fact that distinct regions in Asia have adopted their very own regulatory strategies and scale-up and business practices.


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