Cryptocurrency News

Bitget integrates DeFi aggregator into crypto exchange app

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Crypto exchange Bitget has integrated a decentralized finance (DeFi) aggregator into its crypto exchange application, allowing users to swap their tokens and access DeFi services through its Web3 Wallet.

According to Bitget, the effort aims to provide users with options for trading their crypto assets in the exchange. The app will also gradually include other services, including a non-custody wallet, an NFT marketplace, and decentralized application (DApp), according to Gracy Chen, the managing director of Bitget.

In addition, Chen also told Cointelegraph that most currencies listed in their exchange will be available in the wallet for DeFi trading. According to Chen, the swap feature aggregates liquidity from ten decentralized exchanges (DEXs), including Uniswap, PancakeSwap and Curve Finance. Chen explained:

“At the core of the recent integration is our Web3 Wallet, which facilitates the secure storage, management, and control of their digital assets. Alongside the wallet, we’ve launched a Swap service, which is an advanced DeFi aggregator.”

Bitget also highlighted in a recent announcement that the new integration is part of a broader move to expand its business into the wallet sector. According to Bitget, it allows the company to offer asset management services and native storage to its users. 

On July 25, the crypto wallet BitKeep was rebranded to the Bitget Wallet after Bitget acquired the wallet service provider. After the integration, Bitget saw significant growth in specific metrics in the first half of 2023.

Related: Bitget exec says KYC is useful to filter out illegitimate users

The crypto exchange has been continually trying to increase its reach within the crypto space by launching multimillion-dollar funds to support the growth of the Web3 ecosystem. On April 10, the exchange launched a $100 million fund focusing on supporting venture firms and investing in the next generation of Web3 projects.

On Sept. 12, Bitget launched another $100 million fund called the Bitget EmpowerX Fund. This will invest the money into maximizing the firm’s “long-term impact” in the space by investing in analytics firms, media organizations and regional exchanges.

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