Bitget experienced impressive growth in 2024. What were the key factors that contributed to this success?
I think three key factors have contributed to the impressive growth of Bitget last year.
First, we prioritize a user -centered approach, offering diversified investment opportunities through innovative products such as the previous market or Poolx. In addition, we rigorously select and list high quality trends and projects, providing users with access to more than 800 coins while we maintain strong compliance and safety protocols.
Secondly, we have significantly strengthened our legal framework and compliance. The appointments of Hon Ng as legal director and Min Li to lead global growth have been fundamental. This team has led key regulatory approvals, including a license in the United Kingdom, a Bitcoin Service Provider (BSP) in El Salvador, and the launch of an exchange in Vietnam, consolidating our position as a regulated and compatible player in The bull and bears market.
Thirdly, strategic investments and associations have been crucial for our growth. Our investment of 30 million dollars in tons, together with Foresight Ventures, is an excellent example of how we take advantage of strategic collaborations to expand our reach and take advantage of new market opportunities.
What markets have been the main growth drivers for Bitget this year? Are there new regions in which you are focusing by 2025?
Africa registered the highest increase, equal to 300%, followed by southern Asia with 200%, the CIS region with 150%and Southeast Asia with a growth of 140%. European users also increased by 67%, while Latin America and the Middle East saw significant increases.
In 2025, Bitget It plans to continue its expansion in emerging markets such as Southeast Asia, Latin America and some parts of Africa and Asia del Sur, where interest in the cryptvaluto is growing rapidly.
Has Bitget launched new functions or products in 2024? How have they influenced user participation?
Yes, we have launched several innovative features that have significantly improved user participation. The previous market has provided perfect access to new tokens and liquidity before the listings. Launchx, a tokens launch platform, has offered users access to promising project tokens during their launch phases. Poolx, a stake platform to a mine, allows users to bet specific coins to gain popular tokens in a simple and rewarding way. In addition, Bitget Pay has facilitated instant transactions of cryptocurrencies, which supports several cryptocurrencies.
These characteristics, combined with our focus on user experience and a solid security framework, have attracted a significant number of new users and have maintained our existing user base. In fact, our user base has grown from 20 million in January to more than 100 million in December, and our daily negotiation volume has doubled at 20 billion dollars in 2024.
How do you see the adoption of cryptocurrencies in emerging markets and what strategies Bitget has adopted to attract new users in these areas?
The global recognition of cryptocurrencies, particularly in countries like the United States, has had a significant impact on its adoption worldwide. In emerging markets, support regulations are demonstrating to be a key catalyst. The United Arab Emirates, for example, have become a leading center for cryptocurrencies thanks to their favorable fiscal policies and cryptographic environments.
In Bitget, compliance, education and strategic associations are in the center of our strategy. We prioritize compliance and have designed our platform to meet its rigorous requirements, as evidenced by the licenses we have obtained and our continuous collaboration with the local regulatory authorities. This guarantees that our products comply with all the necessary standards while prioritizing the protection of assets and user data.
To further improve accessibility, our exchange offers simplified incorporation, fiduciary gates and localized customer service. We also invent Blockchain education initiatives, strategic sponsorships and incentive programs for users in high growth regions. These efforts to generate trust have contributed to the substantial growth of Bitget, of 25 million users at the beginning of the year to 100 million by the end of the year.
Have there been significant associations or collaborations for Bitget in 2024? What has been its impact on its ecosystem?
In 2024, Bitget signed a significant association with LaLiga, becoming its official cryptocurrency partner in Eastern Europe, Southeast Asia and Latin America. This collaboration takes advantage of the immense popularity of football to reach a broader audience and promote the adoption of cryptocurrencies among sport fans. When aligning with a worldwide sports league worldwide, Bitget is effectively expanding the scope of its brand and introducing cryptocurrencies to a new demographic group.
The strategic investment of 30 million dollars in the TON (the open network) Blockchain also increased to Bitget users in the first half of 2024.
These collaborations have been fundamental to achieve the greatest growth of market share among our competitors. Our combined spot and derivative market share grew 4.05% in 2024, reaching 10.5%.
How have you approached regulatory challenges in key markets? Do you think the regulatory landscape is becoming more favorable for the sector?
The first action we took was to strengthen our compliance team through the hiring of experts such as Hon NG, our legal director with a solid training in the industry and local regulatory experts in key jurisdictions. This allowed us to obtain key approvals in several countries, as mentioned above.
In preparation for Mica, we are creating a regional center in Lithuania and hiring key personnel. We are also improving our risk management measures, such as KYC processes and AML monitoring, to meet strict Mica requirements. While we have a solid compliance framework, which is constantly improved, we are committed to continuous refinement in this area.
I think the regulatory panorama is becoming more favorable for the cryptocurrency industry. Regulators around the world have actively working to establish comprehensive regulatory frameworks that will provide greater clarity, improve consumer protection and promote a more stable and sustainable ecosystem for cryptocurrency growth.
Security is a priority for encryption exchanges. How has the Bitget approach evolved to guarantee the protection of users’ funds and data?
Security is essential for Bitget. We prioritize user security through solid safety measures.
We present the reservation test in December 2022 and since then we have been publishing a monthly report that provides a transparent description of our users’ properties and balances. The last report demonstrates a 134%reserve relationship, significantly exceeding industry standards.
We also have a protection fund currently valued at more than 600 million dollars, to safeguard the assets of users of unforeseen events such as cyber threats or extreme market volatility. Users can monitor the funds in real time through publicly available wallet addresses.
In addition to this, we use avant -garde security technologies, which include cold wallet storage, complete data encryption throughout the life cycle and associations with leading security suppliers such as Certik and SUMSUB, to guarantee a safe commercial environment for all Users.
What have been the most interesting trends in the cryptocurrency market in 2024? And how do you think they will evolve in 2025?
The year 2024 marked a significant milestone with the approval and launch of ETF focused on cryptocurrencies. After the success of the ETFs in Bitcoin and Ethereum, we anticipate the appearance of new offers, as ETF called in BTC, ETF of Ethereum stagnation and diversified indices. These products are expected to expand access to cryptocurrency investments and attract substantial capital tickets.
In addition, Bitcoin’s role as a strategic reserve asset is gaining ground. The potential establishment of Bitcoin strategic reserves by the main nations, including the United States, could significantly improve the state of Bitcoin and remodel global financial dynamics, boost the broader adoption and recognition.
Regulatory clarity remains crucial for a broader adoption of cryptocurrencies. The efforts to integrate traditional finances with cryptocurrencies, similar to those of some political figures, have the potential to revolutionize financial panorama, boost institutional adoption and promote innovation. This convergence could further legitimize cryptocurrencies, paving the way for the development of sophisticated financial products such as ETF and tokenized assets, a model that other main nations could follow.
How do you see the future of the relationship between Defi and CEFI? Does Bitget plan to integrate further functionalities?
I think they define and CEFI will converge more and more, offering users the best of both worlds. Defi provides innovation and transformative characteristics, while CEFI provides a regulated and reliable environment.
In Bitget, we are adopting this convergence by integrating the best of both. We have invested a lot in Bitkeep (now bitget wallet) and we integrate it without problems in our ecosystem. This allows us to offer avant-garde characteristics such as Smart Money, which takes advantage For more than 500 chains.
In the future, we will prioritize the development of characteristics related to PayFI, aligning Blockchain’s innovation with the usability of the real world and revolutionize the way people administer their finances.
