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Crypto Exchange Bitget Invests $30M in Digital Wallet BitKeep

The exchange will use BitKeep to improve stability of security of handling multiple assets across different blockchains.

Updated May 9, 2023, 4:11 a.m. Published Mar 22, 2023, 11:55 a.m.

Crypto exchange Bitget has invested $30 million in digital wallet provider BitKeep. (Pixabay)

Seychelles-based crypto exchange Bitget has become the controlling shareholder in decentralized multi-chain wallet BitKeep with a $30 million investment, according to a press release Tuesday.

Founded in 2018, BitKeep raised $15 million at a $100 million valuation last year in a funding round that was led by Dragonfly Ventures. The press release didn't disclose the valuation at the time of Bitget's investment, and BitKeep didn't immediately respond to a request for comment.

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Bitget will use the BitKeep wallet within its exchange to improve stability and security of handling multiple assets across various blockchains.

"The investment deal implies not only financial but also technical support," BitKeep Chief Operating Officer Moka Han said in the release.

Bitget's token (GBG) was up 10% to 41 cents in the past 24 hours, according to CoinMarketCap.

Bitget investment Wallet Crypto Exchange

Oliver Knight

Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.