Jun 29, 2024 12:25
Bitget Wallet has announced a joint investment withcrypto investment firm Foresight X in Tomarket, a decentralized tradingplatform. This venture targets emerging asset classes and aims to expand thewallet's services beyond traditional decentralized exchanges (DEXs).
Bitget Wallet Eyes New Horizons
According to the press release, Tomarket, developed by experts from Binance andMicrosoft, seeks to address markets that traditional DEXs have yet to explore.The platform allows trading of Real World Assets, crypto asset yield swaps,crypto points, and pre-TGE assets, enhancing liquidity and value discovery inthese sectors.
Scheduled for a July launch, Tomarket will initiallybe available as a Telegram mini-app, providing an entry point for earlyadopters. This innovation is set against the backdrop of significant growth inthe crypto industry in 2024, driven by the Bitcoin halving and SEC approval ofthe Bitcoin ETF.
Alvin Kan, the COO of Bitget Wallet, mentioned:"Trading has always been at the heart of the crypto industry. Beyondtraditional token assets, new asset types such as RWAs and points deservesignificant attention."
"Through our investment and product collaborationwith Tomarket, we aim to explore and develop markets beyond traditional DEXs,driving the growth of new crypto asset trading, thus cementing our dedicationto catering to new user needs as they present themselves."
This period has seen the rise of new asset classes,such as crypto project points trading and pre-TGE tokens, which face challengeslike poor liquidity and high transaction trust costs. Tomarket aims to providea comprehensive, one-stop platform to meet the trading needs of these newassets.
Navigating Web 3 Space
Earlier this year, Bitget Wallet introduced the BitgetOnchain Layer, an intermediary designed to help users navigate the Web3ecosystem. As the first ecosystem partner, Tomarket will reportedly integratedeeply into Bitget Wallet, expanding use cases for the wallet's native token,BWB.
Bitget Wallet offers a range of features, including asset management, swap trading, and NFT services. It supports over 100 majorblockchains and 250,000 cryptocurrencies.
Bitget's trading volumes have been steadily increasing recently. The company posted a 100% increase in spot and futurestrading volumes compared to previous quarters, along with a significant jump inthe price of the platform's native token, BGB.
Bitget's futures trading volume reached nearly $1.4trillion, an expansion of 146% from the previous quarter. The exchangeexperienced the highest increase in derivatives market share, with a growth of2.4% for March. The spot trading volume also experienced a substantial upswingof 113%, surpassing $60 billion in Q1 2024.
This article was written by Jared Kirui at www.financemagnates.com.
World Crypto Global
