The Middle
East openly expresses its desire to become a new cryptocurrency hub . Leading
the way are crypto-friendly nations like the United Arab Emirates (UAE) and
Bahrain. As a result, more exchanges are deciding to enter the local market. Bitget
has become the latest one to do so.
The company
has already initiated its operations in Dubai downtown by hiring 60 new people
for mid and back-office roles.
Bitget Sets Sail for the
Middle East
According
to the data related to MENA’s crypto adoption, the region stands as the fastest-expanding area in the crypto industry, accounting for 9.2%
of global transactions during 2021-2022. The UAE alone witnessed a staggering
400% surge in registered crypto businesses within two years, thereby boosting
global digital asset trading by 10%.
Concurrently,
the region observed a threefold rise in blockchain-related educational programs,
contributing to 8% of the mining hash rates. All of the above factors have led
Bitget to decide to enter the local market and establish its office in Dubai,
one of the emirates of the UAE.
“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…
