BitKeep rebrands as Bitget Wallet after acquisition

Reportedly, Bitget’s investment in BitKeep has made it a stakeholder of the platform

Going by Bitget’s official website, it’s a cryptocurrency exchange
Going by Bitget’s official website, it’s a cryptocurrency exchange

BitKeep the non-custodial wallet acquired by Bitget, the largest crypto copy trading platform, has announced its plans of rebranding to Bitget Wallet following a $30 million fundraise. The rebranding is a part of the 2023 roadmap that reveals plans by the multi-chain wallet to revamp its brand, restructure the management team, and strengthen the overall security system.

Bitget’s investment in BitKeep, has made it the largest stakeholder of the platform. Beyond extending the exchange’s range of services, the investment also involves its support for BitKeep in global expansion and security upgrades. BitKeep is rebranding to deliver a more uniform visual presence as part of the Bitget’s ecosystem.

“We have seen a surging demand for a safer way to store their digital assets and a more user-friendly approach to dive into the Web3 world in the crypto community, and Bitget is actively exploring smarter solutions,” said Gracy Chen, Managing Director of Bitget. “We are working with the BitKeep team to bring the most-used DeFi features, swap, NFT marketplace, and dApps, to the millions of users in the Bitget ecosystem, inspiring the next 1 billion individuals to embrace crypto as we expect in our mission,” she added.

Leveraging Bitget’s expertise in building a robust crypto trading platform, BitKeep unveils multiple measures to evolve its security infrastructure, including a more stringent pre-release review process, partnerships with security auditing firms like Certik, the inclusion of MD5 verification for APK packages, and the support of hardware wallet providers like KeyStone. Moreover, the integration will allow BitKeep users to be protected by the $300 million Bitget User Protection Fund in the event of any potential security threats in the future. BitKeep also declared that it has fully compensated all the eligible users affected by the security incident last December.

On the management restructuring side, BitKeep plans to build a more product-focused team. Kevin Como, Co-founder at BitKeep, will be stepping down as CEO of the company. Karry Cheung, the current Chief Product Officer (CPO) at BitKeep, will be promoted as the new CEO. Several talents from Bitget will join the BitKeep R&D and security team to improve the service stability and security of the non-custodial wallet. Following the investment, BitKeep will continue to function as an independent entity both operationally and structurally.

Moka Han, Chief Operating Officer at BitKeep, commented, “We have successfully established ourselves as a reputable crypto wallet with a wide range of services including storage, swap, NFT marketplace, and more. After joining the Bitget ecosystem, we will be more confident in competing in the global market, reaching higher as more quality services and features are introduced – all in our endeavour to redefine what it means to serve as the ultimate portal into the Web3 space.” 

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First published on: 30-03-2023 at 16:40 IST