Bitget continues to expand its presence around the globe.
Bitget, a leading cryptocurrency trading platform, has embarked on a quest to extend its footprint to the Middle East.
In line with this vision, Bitget has laid the groundwork by establishing an office at the heart of Dubai. This tactical move will lay the foundation for its operations in the Middle East, making Dubai a strategic hub for its regional operations.
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Bitget is exploring further prospects in other prominent Middle Eastern countries, including the United Arab Emirates (UAE) and Bahrain, as potential sites for expansion.
The recruitment drive for this expansion is well underway, with several hires already being secured for middle-management and back-office roles.
According to Gracy Chen, Bitget's Managing Director, the aim is to "scale <the firm's> Middle Eastern team rapidly to support business growth, with between 30 to 60 hires over the next two years.”
In preparation for its foray into the Middle Eastern markets, Bitget has started applying for the necessary licenses. This initiative is a part of Bitget's continuing efforts to expand internationally. Most recently, the crypto exchange set up its operations in Poland.
As a part of its growing ecosystem, Bitget revealed in May that it had integrated with the ClearLoop network, a platform developed by the cryptocurrency custody firm Copper. This integration allows Bitget's clients to securely store their digital assets within Copper's infrastructure while retaining the flexibility to trade assets on the Bitget exchange.
Ultimately, Bitget's bold stride into the Middle Eastern market underscores its ambition to become a global cryptocurrency trading platform. The successful execution of its plans could dramatically reshape the crypto landscape of the Middle East.
It is worth noting that Bitget is not the only firm looking to make the Middle East its strategic hub. Following lawsuits by the US Securities and Exchange Commission, crypto exchanges Binance and Coinbase expressed a desire to open offices in UAE.
