Bitget, the world’s leading cryptocurrency exchange and Web3 company, has experienced remarkable growth in the Middle East and North Africa (MENA) region, onboarding over 2.5 million users in the past six months. This expansion is part of the company’s global scaling strategy, which includes establishing a regional hub in the United Arab Emirates and hiring 60 employees.
According to the report, Bitget’s MENA trading volumes have grown by over 500% since its initial launch in the region. Sam A Spiers, the Regional Director for Bitget MENA, states that the company will strengthen its operations in the MENA region, leveraging the region’s high adoption rates and crypto-friendly landscape. Bitget is exploring blockchain and crypto projects to support home-grown projects for listing and provide more exposure to Middle Eastern founders and products.
The report also highlights the high optimism among MENA investors regarding the impact of the Bitcoin halving and the recent Bitcoin bull run. Over 80% of MENA investors considered the halving to have a significant price impact, and 88% anticipated the recent Bitcoin bull run to renew its all-time high value, which is higher than the global average.
To cater to the growing demand in the MENA region, Bitget has introduced Arabic language support for its website and mobile application. Additionally, the company offers zero fees for buying and selling cryptocurrencies through Bitget P2P, aiming to ensure a seamless and user-friendly experience for traders.
Gracy Chen, the Managing Director of Bitget, states that the MENA region represents a significant share of the global crypto transaction volume in 2023 and is poised to grow exponentially in the years to come. Bitget has already begun exploring license applications to operate in target Middle East markets, with the priority being to obtain operating licenses and support its users with a secure Web3 platform.
Bitget’s expansion plans in the MENA region complement its recent launches in other markets, including Türkiye, where the company has introduced a localized website and tailored services for users. The company’s growth strategy focuses on creating a seamless ecosystem of crypto products and personalizing the platform offerings to cater to the specific needs of local users.
}
This news story relied on a press release distributed by News Direct. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is Bitget Expands Crypto Reach in Middle East and North Africa.