by • Bitget has announced a $30 million investment into the multichain wallet BitKeep at a $300 million valuation.
• The investment will allow BitKeep to access the exchange’s proven technology and security capabilities in the exchange domain.
• The wallet is known for its ability to process cross-chain swaps of digital assets between different blockchains within the application itself.
Bitget Invests $30 Million Into Multichain Wallet BitKeep
On March 22, cryptocurrency derivatives exchange Bitget announced a $30 million investment into the multichain wallet BitKeep at a $300 million valuation. The deal will see Bitget become the controlling shareholder of BitKeep and allow the latter to “access to the exchange’s proven technology and security capabilities in the exchange domain, thus helping it improve the stability and security of its services.”
Benefits For Both Parties
Gracy Chen, managing director at Bitget, commented:”Being one of the most trusted crypto exchanges with a $300 million user protection fund, we know how much security and reliability mean to cryptocurrency users and are confident that the integration of our native solutions in this domain into BitKeep’s framework will bolster its image as an attractive wallet.” Moka Han, chief operating officer at BitKeep, added: “The investment deal implies not only financial but also technical support, which will be provided to us by a professional team along with the experience necessary for product growth and market expansion. We are excited about this partnership and the potential it has to provide our users.”
Features Of The Multichain Wallet
Bitkeep is a self-custody wallet popular among users in Asia-Pacific region, although it also has substantial global presence. Aside from providing access to decentralized finance protocols and non-fungible tokens (NFTs), it is known for its ability to process cross-chain swaps of digital assets between different blockchains within itself.
Previous Investment Rounds
The firm previously raised $15 million at a $100 million valuation in May 2022.
Conclusion
This latest round shows that both companies value each other’s expertise and look forward on working together for mutual benefit. It also showcases how important technology can be when making investments as well as guaranteeing safety for users’ funds when using any blockchain platform or product.
