Bitget growing Middle East footprint as it pursues larger market share globally
Quick Take
- Fourth largest cryptocurrency exchange Bitget plans to hire in the Middle East as it explores “license applications” for select nations in the region.
Bitget is expanding its operations in the Middle East and will hire new staff members as part of plans to scale globally. The crypto exchange said it already has office space in downtown Dubai, but that is only the beginning of its plans.
“We hope to scale our Middle East team rapidly to support business growth, with between 30 to 60 hires over the next 2 years,” Bitget Managing Director Gracy Chen said in a statement. “We may consider selecting Dubai as an operational hub.”
The company is “exploring license applications” so it can operate in select Middle East markets. Founded in 2018, Bitget launched in Turkey earlier this year.
The company serves more than 8 million users from over 100 countries and regions. Its share of the global market grew during the second quarter of the year, rising to 8.7% from 6.9% and ranking it as the world's fourth largest exchange, according to a report from crypto research firm TokenInsight.
The same report showed that market leading exchange Binance saw its share decline slightly.
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