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Crypto Exchange Bitget Invests $30M in Digital Wallet BitKeep

The exchange will use BitKeep to improve stability of security of handling multiple assets across different blockchains.

By Oliver Knight
AccessTimeIconMar 22, 2023 at 11:55 a.m. UTC
Updated May 9, 2023 at 4:11 a.m. UTC
Crypto exchange Bitget has invested $30 million in digital wallet provider BitKeep. (Pixabay)
Crypto exchange Bitget has invested $30 million in digital wallet provider BitKeep. (Pixabay)
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Seychelles-based crypto exchange Bitget has become the controlling shareholder in decentralized multi-chain wallet BitKeep with a $30 million investment, according to a press release Tuesday.

Founded in 2018, BitKeep raised $15 million at a $100 million valuation last year in a funding round that was led by Dragonfly Ventures. The press release didn't disclose the valuation at the time of Bitget's investment, and BitKeep didn't immediately respond to a request for comment.

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    • Bitget will use the BitKeep wallet within its exchange to improve stability and security of handling multiple assets across various blockchains.

    "The investment deal implies not only financial but also technical support," BitKeep Chief Operating Officer Moka Han said in the release.

    Bitget's token (GBG) was up 10% to 41 cents in the past 24 hours, according to CoinMarketCap.

    Disclosure

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Oliver Knight
    Oliver Knight

    Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

    Follow @OKnightCrypto on Twitter

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