Bitget, one of the world’s largest crypto exchanges, announced that its global user base has surpassed the 45 million milestone, marking the latest major milestone in its sixth anniversary.
This follows an announcement on September 18 that almost triples the number of users on its platform compared to 2023. The exchange attributed much of this rapid growth to the rapidly expanding markets in Africa, South Asia, and Southeast Asia. The crypto exchange reported an unprecedented 1,614% growth in Africa, underlining the passion of the region for embracing the new Web3 space.
Bitget Achieves 729% User Growth in Asia
Meanwhile, the number increased by 729% in South Asia and 216% in Southeast Asia, further consolidating the platform’s fast-growing reach in this key market.
Bitget CEO Gracy Chen also points to the expansion of its peer-to-peer marketplace, the increasing popularity of memecoins, and development around The Open Network ecosystem as reasons for the platform’s exponential growth.
Chen underlined that Bitget’s P2P marketplace offers a secure and trustable environment where crypto can be transformed with fiat. Given the challenges around bank transfers and scarcity of dynamics around approaching available banking activities, crypto was originally certified to be used as a means of value exchange, and this has become more vital than ever for financial freedom.
Chen said, “The P2P market is strong at Bitget, where people can safely trade crypto for fiat. That has remained the primary way for many to maintain financial freedom because of difficulties with bank transfers and the inaccessibility of banking services.
Furthermore, Chen underlined the massive contributions of memecoins to Bitget’s growth, particularly in African markets. Indeed, the platform has actively supported African users as they dip their toes into the membranes sector.
“The memecoins have played a huge role in our growth within the region,” Chen said, adding: “Bitget strongly supports these projects. Bitget’s growing presence in Africa could also be attributed to the rise of the TON ecosystem.
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Chen said integrating TON in the highly utilized Telegram messaging app provides the seamless onboarding of Africans to Web3, fueling the exchange’s user base in the region.
Bitget’s Growth and Operational Challenges in the African Market
Also, Bitget CEO Gracy Chen recently said that for millions of Africans using the application daily, Telegram has become a real entry point into the world of cryptocurrencies. She also pointed out that the crypto exchange actively positions itself as a “TON-friendly” platform, thus more appealing to TON-ecosystem pal users.
Chen added about the rapid growth in users, “Rapid growth often pushes the limits of the company on many fronts—be it technical infrastructure, security, and support teams, among other operational aspects.
Despite these, Chen appeared confident that Bitget’s workforce of 1,500 staff would successfully navigate through such pressures. She remains positive that their knowledgeable team is capable of coping with these rising demands and driving further this section of the cryptocurrency market.
According to a recent report, KOLs have played an influential role in the recently measured success of Bitget on the continent through educational awareness of the platform’s ecosystem. The report also credits the partial user growth of Bitget in the region for the super-fast growth of the TON ecosystem.
Conclusion
Bitget has taken several steps to make its P2P platform more attractive and has been improving the exchange’s usability. All these form part of the bigger strategy of educating users to trade and invest in meaningful and productive ways that align with their financial realities.
This June, Bitget celebrates its sixth birthday, and it has started with a bang: the exchange has just recorded a record uptick in global users. The dramatic spit over 45 million underlines both the rising influence of crypto exchange within the cryptocurrency market and its resilient adaptation to geographical demands and emerging trends.
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