Bitget, a prominent cryptocurrency exchange and Web3 company has recently published a report highlighting the significant progress observed in the Middle East and North African areas since its inception in November 2023. With a staggering 2.5M users from the region alone, Bitget has achieved an impressive milestone of 25M users worldwide.
Last year, Bitget made an exciting announcement about its expansion into the Middle East region. They revealed their plans to establish a regional hub in the UAE and hire 60 employees as part of their global scaling strategy. Bitget has experienced significant growth in its MENA trading volumes over the past six months since its initial launch. The company is focused on providing localized solutions to cater to the needs of its users.
Sam A Spiers, Regional Director for Bitget MENA, states: “Bitget will strengthen its operations in the MENA region, leveraging the region’s high adoption rates and crypto-friendly landscape. We are exploring blockchain and crypto projects to support home-ground projects for listing and providing more exposure to Middle Eastern founders and products.”
Bitget Research recently published a report on the Bitcoin Halving in February 2024. The report revealed that most investors in the MENA region believed that the halving would substantially impact the price of Bitcoin. Additionally, 88% of respondents in the region predicted the recent Bitcoin bull run that led to a new all-time high value.
There is a higher level of optimism than the survey’s other regional participants, as users from the MENA region showed the greatest willingness to increase their crypto holdings, with 82% reporting positively. On the other hand, the worldwide average did not surpass 70%.
Bitget offers Arabic language support for its website and mobile application, catering to its focus on the MENA region. Bitget users in the Middle East can enjoy zero fees when buying and selling cryptocurrencies through Bitget P2P. This is done to provide traders with a smooth and user-friendly experience. Bitget announced a new partnership with OnRamp, a prominent crypto payment solution provider, this week. Through this collaboration, Bitget users can now easily buy and sell cryptocurrencies using various local currencies, including AED and other fiat currencies.
“With the MENA region representing a significant share of the global crypto transaction volume in 2023, it is poised to grow exponentially in the years to come. Bitget has already begun exploring license applications to operate in target Middle East markets. It’s our priority to obtain operating licenses and support our users with a secure WEB3 platform.” Gracy Chen, Managing Director of Bitget.
Bitget has been rapidly expanding its operational reach worldwide in recent months. This includes successfully registering as a VASP (Virtual Asset Service Provider) in Poland and obtaining similar crypto registration in Lithuania. With extensive knowledge of blockchain technology, the new expansion plan in the Middle East perfectly complements its successful launch in Türkiye. The company has gone the extra mile by offering full localization, including a dedicated Turkish website, Bitgettr.com, that provides customized services for users in Türkiye.
Bitget’s growth plans align with building a seamless ecosystem of cryptocurrency products for local users. The company recently launched a Ramadan campaign to celebrate the holy month with its users, showcasing its dedication to providing personalized platform offerings. In addition, Bitget offers zero fees for purchasing Bitcoin and Ethereum through spot trading and free bank transfers.