Bitget, a crypto derivatives platform, announced a new fund focusing on growing its ecosystem. It is believed that this will also help to invest in regional exchanges, analytics firms, media organisations and entities that can contribute to its growth, stated Cointelegraph.
Sources revealed that Bitget introduced the Bitget EmpowerX Fund, which might invest about $100 million to increase the company’s “long-term impact” in the crypto space. Bitget expects the key to expanding the native crypto ecosystem is by expanding services to reach the needs of the global user base, Cointelegraph added.
“The fund is another major step in the company’s mission to make Bitget a comprehensive platform that caters to the ever-changing needs of crypto users. We also want to empower other people in our industry, because a rising tide lifts all boats,” Gracy Chen, managing director, Bitget, explained.
Furthermore, Bitget mentioned that it would target funding Web3.0-based projects globally. Supposedly, they will also focus on Asian projects with teams working on solving real-world problems, Cointelegraph concluded.
(With insights from Cointelegraph)
