Bitget, a leading platform for trading cryptocurrency, has finalized its crypto registration process in Lithuania. This registration enables the company to provide crypto-related services from within Lithuania or to Lithuania while adhering to local laws and regulations.
Bitget’s registration with Lithuanian authorities, a rising digital asset market in Europe, will expand the company’s global presence. Lithuania is recognized as a favorable destination for cryptocurrency and blockchain initiatives and is a front-runner in the development of crypto regulations within the EU. This crypto-friendly atmosphere makes the country an attractive hub for enthusiasts and a preferred location for firms wishing to establish legal entities for crypto-centric operations.
“At Bitget, we always embrace and follow the various regulatory frameworks set forth for digital assets and actively cooperate with governmental bodies to bring upon a better ecosystem. The global regulation of digital assets is advancing on a daily basis, and we actively observe the regulatory changes around the globe. We have a whole dedicated compliance team in place to focus on various regulatory compliance matters,” said Gracy Chen, the Managing Director of the Bitget exchange.
Bitget is dedicated to developing a top-notch and robust team to support its compliance initiatives. The company’s compliance team has expanded by 50% in the past year, ensuring professionalism and strength in ensuring full compliance with relevant regulations.
Bitget has always aimed to provide services and products that reflect its industry-leading security and credibility standards. Recent steps taken by the company to demonstrate its market presence include a $30 million investment in decentralized multi-wallet BitKeep and the establishment of a $300 million user protection fund. Bitget has also made significant progress in entering the Web3 arena, exemplified by the launch of the $100 million Bitget Web3 Fund. This fund aims to promote blockchain adoption and support promising startups that can add value to the space.
Last year, Bitget announced a partnership with Lionel Andrés Messi, the legendary Argentinian footballer and record holder of seven Ballon d’Or Awards. The partnership was launched with a month-long film production before the start of the Football World Cup tournament.
More recently, Bitget has partnered with Core DAO, an organization dedicated to advancing the Satoshi Plus ecosystem. This collaboration involves a $200 million ecosystem fund aimed at supporting decentralized applications (DApps) constructed on the Core Network Layer-1 blockchain.