Giant Crypto Exchange Bitget Completed Registration in Lithuania 

• The crypto exchanges will work in compliance with regional rules and regulations. 
• Lithuania is among the fastest emerging digital asset markets in Europe. 

Bitget, a Seychelles-based cryptocurrency exchange, completed its registration in Lithuania. The registration will enable the exchange to offer crypto-related services in compliance with Lithuanian regional laws and regulations. 

Lithuania is among Europe’s most emerging digital currency markets, which will help the crypto exchange reach more international users at a time. Lithuania is popularly known for budding crypto and blockchain projects.

After successfully completing the registration process Chief Executive Officer of Bitget said, “ The exchange always obeys the rules and regulations formed by the governmental bodies and always stands with the authorities to build a healthy and a better ecosystem.” “At Bitget, we focus on the changing rules and regulations globally and have a compliance team which mostly focuses on the various regulatory compliance matters.”  

On February 2, 2023, Bloomberg reported that Lithuania mirrors a high registration rate of digital asset service providers, and more than 206 crypto companies have registered so far. According to Bitget, Lithuania is still among the most favorable spots for cryptocurrency users and has yet to register companies.  

According to CoinMarketCap, the cryptocurrency exchange was developed and launched in 2016 and serves over 2 million users in over 50 nations. Bitget is ranked 11th among 617 crypto exchanges. 

Major Developments of Bitget in 2023     

Earlier on January 31, 2023, Bitget collaborated with Smart Coin trading to expand its network. Recently on April 4, 2023, the crypto exchange raised a $10 million funding round which Dragonfly Capital led.

TheCoinRepublic reported that the crypto exchange initially announced allocating $100 million for Web3-friendly venture capital firms and supporting next-generation crypto projects.

The managing director of Bitget, Gracy Chen, said: “The funding initiative of Bitget will help the developing companies so that Web3 can become popular as Web2 was.”   

As per CoreDAO and Bitget, the Ecosystem Fund, backed by MEXC and Bitget partnership, aims to support the early-stage project financially. The financial support will empower the development, marketing, community building, recruitment, and other mandatory services. 

Bitget Exchange plans to become the only validator of Core Network and seeks to support Core staking on its platform. As of April 10, Bitget claims to function in 40+ regions globally and is planning to establish operations in Indonesia, Vietnam, and the Philippines.  

In the last quarter of 2022, the crypto exchange informed that it has partnered with globally renowned  Argentinian footballer Lionel Andres Messi and appointed him as the brand ambassador of Bitget. 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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