Cryptocurrency exchange Bitget has integrated a decentralized finance (DeFi) aggregator into its cryptocurrency exchange application, allowing users to exchange tokens and deposit and withdraw DeFi services through its Web3 wallet.
According to Bitget, the move is aimed at providing users with the option to trade crypto assets on the exchange. Bitget managing director Gracy Chen said the app will also gradually include other services, including non-custodial wallets, non-fungible token markets and decentralized applications.
Additionally, Chen told Cointelegraph that most currencies listed on the exchange can be traded in DeFi within the wallet. According to Chen, the exchange function aggregates liquidity from 10 decentralized exchanges, including Uniswap, PancakeSwap and Curve Finance. Chen explained:
“The core of the recent integration is our Web3 wallet, which helps securely store, manage and control their digital assets. In addition to the wallet, we have also launched the Swap service, an advanced DeFi aggregator.”
Bits too highlight In a recent announcement, the new integration is part of a wider move to expand its operations into the wallet space. According to Bitget, it allows the company to provide asset management services and local storage to users.
On July 25, after Bitget acquired the wallet service provider, the encrypted wallet BitKeep was renamed Bitget Wallet. After the integration, Bitget showed significant growth in specific indicators in the first half of 2023.
related: Bitget executives say KYC is useful in filtering out illegal users
The cryptocurrency exchange has been continuously trying to expand its influence in the cryptocurrency space by launching multi-million-dollar funds to support the development of the Web3 ecosystem. On April 10, the exchange launched a $100 million fund focused on supporting venture capital companies and investing in next-generation Web3 projects.
On September 12, Bitget launched another $100 million fund called Bitget EmpowerX Fund. This will put money into maximizing the company’s “long-term impact” in the space through investment analytics firms, media organizations and regional exchanges.
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