Bitget, a global cryptocurrency exchange, has launched BitEXC, a Vietnam-focused trading platform to reshape the country’s digital asset market. With tailored features, local payment integrations, and customer support, BitEXC seeks to bridge the gap between global crypto infrastructure and the specific needs of Vietnamese users. Bitget Introduces BitEXC to the market with these aims.
Vietnam: A Thriving Crypto Ecosystem
Vietnam has consistently ranked among the top nations in cryptocurrency adoption. According to Bitget, an impressive 21.2% of the Vietnamese population owns digital assets, reflecting the country’s growing interest in decentralized finance and blockchain technology. By launching BitEXC, Bitget intends to tap into this enthusiastic market.
Gracy Chen, the CEO of both Bitget and BitEXC, emphasized the platform’s commitment to understanding local user demands.
“Vietnam’s crypto adoption is remarkable, yet the market lacks platforms designed to cater to its unique audience. BitEXC was created to provide localized solutions, offering Vietnamese users a comprehensive, user-friendly trading experience,” said Chen. This shows how Bitget introduces BitEXC by focusing on user-centered features.
Features Tailored for Vietnam
BitEXC promises a suite of services tailored to the Vietnamese market:
1. Peer-to-Peer (P2P) Trading: This type of trading facilitates direct transactions between users, ensuring accessibility for beginners and experienced traders.
2. Local Payment Options: Integrates popular Vietnamese payment systems such as ViettelPay, Momo, and ZaloPay to simplify fiat-to-crypto transactions.
3. Spot and Futures Trading: Provides advanced tools for experienced investors seeking higher returns.
4. Earn and Copy Trading Programs: These features, which will roll out in the next three months, aim to enhance user engagement and profitability.
Additionally, BitEXC is backed by Bitget’s $300 million Protection Fund, held in Bitcoin and Ether, to safeguard users against unforeseen market disruptions.
Competing in a DEX-Dominated Market
Vietnamese traders predominantly prefer decentralized exchanges (DEXs), with surveys showing that 90% favor DEX platforms for their transparency and security. However, BitEXC plans to differentiate itself by combining the benefits of centralized exchange infrastructure with localized services. So, Bitget Introduces BitVEXC to offer a distinct alternative.
By addressing regulatory concerns and integrating blockchain innovations, BitEXC positions itself as a reliable alternative for traders seeking diversified options within a structured framework.
Vietnam’s Blockchain-Friendly Policies
The Vietnamese government’s pro-blockchain stance further strengthens BitEXC’s growth prospects. In October, the Ministry of Information and Communications unveiled a National Blockchain Strategy, including legal recognition of digital assets and plans to boost blockchain-based innovations across industries.
This regulatory clarity could facilitate increased crypto adoption and position Vietnam as a leader in the global blockchain ecosystem.
Bitget’s Strategic Expansion
BitEXC’s launch coincides with Bitget’s broader expansion goals. The exchange reported a $700 million capital inflow in Q2 2024 and a 50% surge in web traffic. Bitget’s listing of Hedera (HBAR) on the same day as BitEXC’s debut signals its commitment to offering diverse investment opportunities to its global user base, which now exceeds 45 million. Clearly, Bitget introduces BitEXC as a key part of its strategy.
The Road Ahead
As BitEXC gains traction, its localized services and alignment with Vietnam’s regulatory framework could make it a key player in the region. By leveraging its parent company’s robust infrastructure and focusing on community-driven initiatives, BitEXC aims to transform Vietnam’s crypto trading landscape.
For Vietnamese traders, BitEXC offers an innovative approach to digital asset management, bridging global technology with local needs. In summary, Bitget introduces BitEXC as an innovative solution for Vietnam’s thriving market.