Bitget plans to make the Middle East its next business expansion region and will establish a regional center

2023-07-20 19:11:17

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ChainCatcher news, Bitget plans to make the Middle East its next business expansion region, focusing on exploring Bahrain and the United Arab Emirates, which includes the crypto-friendly Dubai, Abu Dhabi, and Ras Al Khaimah. The compliance department of Bitget has begun to explore local compliance-related applications to provide regulatory-compliant services locally. This expansion plans to establish a regional headquarters and recruit 30 to 60 new team members for mid-office and back-office functions.

Bitget stated that the latest statistics on cryptocurrency adoption indicate that the Middle East and North Africa are the fastest-growing regions for cryptocurrency, accounting for 9.2% of global trading volume from 2021 to 2022. From 2020 to 2022, the number of registrations in the United Arab Emirates increased by 400%. Additionally, blockchain-related educational programs in the region have increased by 300%.

Gracy Chen, General Manager of Bitget, stated, "We hope to rapidly expand the team size in the Middle East and are considering selecting Dubai as the regional operations center. This move also aligns with our core values of promoting the development of the blockchain industry globally."

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