Bitget targets Vietnamese DEX market with BitEXC exchange, local payment support and $300 million protection fund.
On December 3, Bitget officially launched BitEXC, a cryptocurrency trading platform specifically designed for the Vietnamese market, with the aim of expanding its presence in Southeast Asia. BitEXC aims to attract users of decentralized exchanges (DEX), the dominant market in Vietnam, with about 21.2% of the population owning digital assets, ranking second globally.
BitEXC will provide local customer support, educational programs, and integration with popular payment methods such as ViettelPay, Momo, and ZaloPay, according to Bitget. The platform will initially focus on peer-to-peer (P2P) trading, then expand to spot services, futures contracts, the Earn program, and copy trading features within the next three months.
Source: BitEXC Vietnam
The launch of BitEXC marks a strong step by Bitget in competing with DEX exchanges in Vietnam. According to a survey in 2023, 90% of cryptocurrency users in Vietnam prioritize using DEX, reflecting a clear consumer trend in this market.
Bitget and BitEXC CEO Gracy Chen said the launch of BitEXC is to meet the specific needs of the Vietnamese market, providing a trading platform that suits the habits and requirements of users. BitEXC will leverage Bitget's technological infrastructure, while being protected by the Bitget Protection Fund worth $300 million, including Bitcoin and Ether, to mitigate risks related to market volatility.
Launched in the context of the Vietnamese Government actively promoting the application of blockchain technology, BitEXC has further strengthened the development potential of the cryptocurrency market in Vietnam. The National Blockchain Strategy was issued last October, including steps towards legal recognition of digital assets.
With over 45 million global users, $700 million in investment capital, and a 50% increase in traffic in Q2/2024, Bitget is showing great ambition in this potential market. At the same time, the listing of Hedera (HBAR) on December 3 also shows Bitget's serious investment in expanding its product portfolio and attracting more users.
