{"id":38763,"date":"2023-07-21T15:02:45","date_gmt":"2023-07-21T19:02:45","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/crypto-trading-platform-bitget-expands-to-the-middle-east-opens-dubai-office\/"},"modified":"2023-07-21T15:02:47","modified_gmt":"2023-07-21T19:02:47","slug":"crypto-trading-platform-bitget-expands-to-the-middle-east-opens-dubai-office","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=38763","title":{"rendered":"Crypto Trading Platform Bitget Expands to the Middle East, Opens Dubai Office"},"content":{"rendered":"
\n

Cryptocurrency exchange\u00a0Bitget<\/strong>\u00a0<\/strong>is set to expand its operations to the Middle East, with plans to hire up to 60 new staff members in the region.<\/p>\n

In a Thursday\u00a0press release, Bitget revealed that it has opened an office in downtown\u00a0Dubai\u00a0<\/strong>to support its expansion, and is also exploring opportunities in countries like Bahrain and the United Arab Emirates (UAE).\u00a0<\/p>\n

Bitget aims to establish a regional headquarters in near future as well.<\/p>\n

The company further revealed that it has started recruitment for the new roles, with some employees already hired for middle- and back-office positions.\u00a0<\/p>\n

“We hope to scale our Middle East team rapidly to support business growth, with between 30 to 60 hires over the next 2 years or more across the Middle East region,” Gracy Chen, the managing director of Bitget, said in a comment.\u00a0<\/p>\n

\n

“New team members will include various mid-office and back-office functions. We may consider selecting Dubai as an operational hub for the Middle East market.”<\/p>\n<\/blockquote>\n

Chen emphasized that this move is not solely about business, but also aligns with the company’s core values, which focus on advancing blockchain and cryptocurrency adoption on a global scale.\u00a0<\/p>\n

Bitget has already begun the process of obtaining the necessary licenses from domestic regulators in the region.<\/p>\n

Crypto Firms Expand Outside the US Amid Regulatory Struggles<\/h2>\n

Bitget’s expansion plans come as US-based cryptocurrency exchanges have been aggressively expanding their services globally amid increasing regulatory hostility in the US.\u00a0<\/p>\n

Last month, Gemini\u00a0said it plans to expand\u00a0into the Asia-Pacific (APAC) region to capture the \u201cnext wave of growth for crypto.\u201d\u00a0<\/p>\n

The platform detailed that it aims to bring in more than 100 new employees to expand its current team in Singapore and establish an engineering division in India.<\/p>\n

Likewise, Coinbase has expanded the services it provides in Singapore, one of the more crypto-friendly financial hubs.\u00a0<\/p>\n

The expansion plans come as crypto platforms have been under increasing regulatory scrutiny in the US.<\/p>\n

Last month, the\u00a0SEC\u00a0<\/strong>sued both Binance, the world’s largest cryptocurrency exchange, and\u00a0Coinbase, the largest US-based cryptocurrency\u00a0exchange.<\/p>\n

The commission filed 13 charges against Binance and its US affiliates, ranging from allegedly operating as an unregistered exchange to offering unregistered securities.\u00a0<\/p>\n

The regulator also levied similar charges against Coinbase, claiming that it operated as an exchange, broker, or clearing agency without the required registrations.\u00a0<\/p>\n

Furthermore, the SEC has taken enforcement action against crypto exchanges\u00a0Kraken<\/strong>\u00a0<\/strong>and\u00a0Bittrex<\/strong>, as well as crypto lending platform\u00a0Nexo<\/strong>\u00a0<\/strong>so far this year.\u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency exchange\u00a0Bitget\u00a0is set to expand its operations to the Middle East, with plans to hire up to 60 new staff members in the region. In a Thursday\u00a0press release, Bitget revealed that it has opened an office in downtown\u00a0Dubai\u00a0to support its expansion, and is also exploring opportunities in countries like Bahrain and the United Arab Emirates […]<\/p>\n","protected":false},"author":1,"featured_media":27547,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-38763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nCrypto Trading Platform Bitget Expands to the Middle East, Opens Dubai Office | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Cryptocurrency exchange\u00a0Bitget\u00a0is set to expand its operations to the Middle East, with plans to hire up to 60 new staff members in the region.In a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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