New Delhi: India has been at the forefront of Web3 innovation and user protection has been the epicentre of product strategy at Bitget. The company has confirmed it is actively working towards becoming a regulated crypto exchange in India.
With an increasing interest and adoption, India’s crypto market has shown significant growth. Bitget has confirmed it is in active discussions with the Financial Intelligence Unit (FIU) for further licensing in India. The company remains optimistic about serving this key market.
Simran Alphonso, Head of Global Communications at Bitget, emphasised Bitget’s proactive approach to compliance and reassured users about the safety of their funds. She stated that “India is a high-priority market” for Bitget and confirmed the exchange is exploring ways to serve the region while ensuring compliance.
Bitget is actively organising user awareness campaigns to educate and empower the users to take an informed decision during their digital asset journey.
Bitget upholds its transparency standards by providing verifiable Proof of Reserves data and offering users unrestricted access to comprehensive fund storage information, including publicly available wallet addresses. The company has been dedicated to transparency and security, consistently reinforcing its position as a trusted top crypto exchange.
Here are some key points around the latest developments at Bitget India:
- Bitget is actively engaging with the India regulatory authorities to meet the compliance requirements for its India operations.
- India is a high priority market for Bitget and is working towards providing best crypto trading services by implementing the highest standards of compliance and customer service.
- Bitget made KYC mandatory on its platform to prevent illicit use of digital assets. The KYC requirements aim to improve security compliance for traders on the Bitget exchange.
- Since its launch in August 2022, the Protection Fund has been a cornerstone of Bitget’s user-centric approach, highlighting the platform’s dedication to providing a secure trading environment. Bitget Protection Fund’s Average Valuation Hits $429M in June 2024.
- Bitget previously hosted an accelerator program for India’s startup ecosystem through its $10 million Blockchain4Youth fund.
Bitget is committed to serve India and contribute towards its growth in the web3 . The company has obtained Virtual Asset Service Provider (VASP) licences in Lithuania and Poland, abiding by regulatory standards and creating a secure trading environment with KYC/AML compliance. The company is exploring all avenues to meet local compliance and serve the region better.
