Crypto Exchange Bitget Announces Registration in Seychelles

Crypto Exchange Bitget Announces Registration in Seychelles

Along with receiving registration in Seychelles, Bitget aims to expand its workforce to 1200 employees by the first quarter of 2023.

Bitget, a cryptocurrency exchange and digital assets trading platform established in 2018, has been registered in Seychelles.

According to the press release shared on November 22nd, the registration was made under the 2016 International Business Companies Act and will allow Bitget to expand globally.

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With the newest registration, Bitget has reportedly established its regional hubs in Asia and Latin America. Moreover, the company expects to continue expanding its presence in other regions by opening its centers in Europe and Asia.

When talking about the company’s registration in Seychelles, Bitget Managing Director Gracy Chen noted:

We have been working for several months on this registration and are happy to announce the development now. The registration in Seychelles offers a constructive environment for Bitget.

In the announcement, Bitget Gracy Chen added that registration in Seychelles will help to expand various partnerships like the ones with “the Argentine football legend Lionel Messi and the Italian football club Juventus.”

On top of that, after registering in Seychelles, the company expects to expand its global workforce by around 50%. Since June 2022, Bitget's workforce grew, by 78%, from 450 employees to over 800.

It is worth noting that in June, Bitget announced that it aims to expand its workforce to 1000 employees by the end of 2022. However, with the newest announcement, Bitget revealed that it currently hopes to have 1200 employees by the first quarter of 2023. Regarding the expansion of the workforce, Gracy Chen added:

Our recruitment always aligns with our global expansion and long-term strategy, and we will continue to hire despite current market sentiment. Capable and suitable talent will help Bitget build a safe and reliable platform."

In the announcement, Bitget also addressed the current crypto market turmoil caused by the collapse of the crypto exchange FTX. The company noted that it is taking a series of initiatives to “build up trust and confidence with users and the crypto industry.” Bitget emphasized that it has launched a $5 million Builders’ Fund and increased the Protection Fund size to $300 million.

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree


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