Cryptocurrency exchange Bitget expands to the Middle East, with plans to open an office in Dubai, hire up to 60 new staff members, and explore opportunities in Bahrain and the UAE.
Highlighting Points
- Cryptocurrency exchange Bitget expands to the Middle East, opening an office in Dubai and exploring Bahrain and UAE opportunities.
- The company plans to hire 30 to 60 new staff members in the region over two years.
- Bitget is actively obtaining licenses to comply with local regulations, aiming for a strong presence in the growing cryptocurrency market.
- The expansion reflects Bitget’s commitment to global growth and confidence in the Middle East’s crypto industry amid US regulatory scrutiny.
Cryptocurrency exchange Bitget is set to expand its operations to the Middle East, with plans to hire up to 60 new staff members in the region. The company has opened an office in downtown Dubai to support its expansion and is exploring opportunities in Bahrain and the United Arab Emirates (UAE). Bitget aims to establish a regional headquarters in the near future.
ANNOUNCEMENT 🚨
BITGET @bitgetglobal @RealCryptoJamie SPONSORING THE BIGGEST CRYPTO PARTY IN DUBAI ON THE 13TH OF AUGUST ON MEGA YACHT & HOSTED BY BITBOY @Bitboy_Crypto
— IAmCryptoWolfy (@IAmCryptoWolfy) July 17, 2023
Bitget Expanding in the Middle East
Bitget has revealed its plans to expand in the Middle East by opening an office in downtown Dubai and exploring opportunities in Bahrain and the UAE. The company aims to hire between 30 to 60 new staff members in the region over the next two years. Bitget is actively recruiting for various middle- and back-office positions and may consider selecting Dubai as an operational hub for the Middle East market. Gracy Chen, the managing director of Bitget, stated that this move aligns with the company’s core values of advancing blockchain and cryptocurrency adoption on a global scale.
Bitget’s expansion plans come at a time when US-based cryptocurrency exchanges are facing increasing regulatory hostility in their home country. Gemini recently announced its plans to expand into the Asia-Pacific region to capture the “next wave of growth for crypto.” Coinbase has also expanded its services in Singapore, a crypto-friendly financial hub. The US regulatory scrutiny has led to legal actions against Binance and Coinbase by the Securities and Exchange Commission (SEC). The charges range from operating as an unregistered exchange to offering unregistered securities.
Bitget’s Licensing Process
Bitget has already begun the process of obtaining the necessary licenses from regulators in the Middle East. This step ensures compliance with local regulations and enables the company to provide secure and reliable services in the region. By expanding its operations and obtaining the required licenses, Bitget aims to establish a strong presence in the Middle East’s growing cryptocurrency market.
Bitget’s expansion to the Middle East signifies the company’s commitment to global growth and its confidence in the potential of the region’s cryptocurrency market. By hiring local talents and establishing an operational hub, Bitget aims to provide efficient services and support for its Middle Eastern customers. This move also reflects the growing importance of the Middle East in the cryptocurrency industry.
Conclusion
Bitget’s decision to expand its operations to the Middle East demonstrates its determination to tap into new markets and establish a strong presence in the region. With plans to hire up to 60 new staff members and explore opportunities in countries like Bahrain and the UAE, Bitget is taking strategic steps towards further growth and success. By aligning its expansion plans with its core values of advancing blockchain and cryptocurrency adoption, Bitget is poised to make a significant impact in the Middle East’s cryptocurrency landscape.
