Cryptocurrency exchange Bitget has integrated a DeFi aggregator into its crypto exchange application, allowing users to swap tokens and use DeFi services via its Web3 Wallet.
The project, according to Bitget, intends to provide users with options for trading their crypto assets on the exchange. According to Gracy Chen, Bitget’s managing director, the app will eventually include other features such as a non-custody wallet, an NFT marketplace, and a decentralized application (DApp).
Furthermore, Chen told Cointelegraph that the wallet will support DeFi trading for the majority of the currencies featured on their exchange. The swap feature, according to Chen, pools liquidity from ten decentralized exchanges (DEXs), including Uniswap, PancakeSwap, and Curve Finance. Chen elaborated:
“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.”
In a recent announcement, Bitget also stated that the new integration is part of a larger effort to extend its business into the wallet sector. It enables Bitget to provide asset management services and native storage to its users, according to the business.
After Bitget bought the wallet service provider, the crypto wallet BitKeep was rebranded to the Bitget Wallet on July 25. Bitget experienced strong increase in various indicators following the integration in the first half of 2023.
The cryptocurrency exchange has been striving to expand its presence in the crypto industry by introducing multimillion-dollar funds to assist the expansion of the Web3 ecosystem. On April 10, the exchange announced the creation of a $100 million fund dedicated to assisting entrepreneurial firms and investing in the next generation of Web3 technologies.
Bitget established another $100 million fund, the Bitget EmpowerX Fund, on September 12. This money will be invested in analytics firms, media organizations, and regional exchanges in order to maximize the firm’s “long-term impact” in the space.
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