- Bitget has integrated its web3 wallet into its exchange.
- The move is expected to combine the strengths of Centralized Finance and DeFi.
- The integration is Bitget’s latest move in its pivot to the DeFi field.
Prominent crypto exchange Bitget has integrated its Web3 wallet with its exchange. The wallet’s integration will link services like Swap, DEXs, NFT marketplaces, and other dApps with the exchange. The wallet integration will open up the possibilities of DeFi within the Centralized Finance (CeFi) ecosystem of the Bitget exchange, the company said in a press release.
Bitget’s wallet integration is the latest in a series of moves by which the exchange has scaled up its DeFi capabilities. The exchange had, in December 2022, launched its MegaSwap DeFi aggregator, which enabled trade in over 10,000 tokens from the top 10 DEXs for competitive prices. Bitget continued the expansion by becoming a controlling stakeholder in BitKeep, a multichain wallet, in April 2023. BitKeep was subsequently rebranded as Bitget Wallet.
Bitget Wallet signaled Bitget’s foray into DeFi and allowed for native storage and asset management for its users. With the latest integration, Bitget aims to be a comprehensive trading platform that combines the strengths of CeFi, like security and convenience, with the possibilities of DeFi. Additionally, the wallet has its NFT marketplace and dApp browser to boost its push into DeFi.
Bitget’s wallet integration into its platform is the latest move by a CeFi service in integrating DeFi services with its platform. Binance is the most prominent example of the trend, with its Web3 wallet now available within its app. Web3 integration with its CEX platform will deliver users with a host of new crypto products and services, the Bitget press release said.
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