Bitget unveils BitEXC crypto exchange in Vietnam

Cryptocurrency exchange Bitget has introduced BitEXC, a platform tailored specifically for users in Vietnam, aiming to expand its presence in Southeast Asia.

Vietnam ranks second globally in cryptocurrency ownership, with 21.2% of the population holding digital assets, according to Bitget.

Gracy Chen, CEO of Bitget and BitEXC, highlighted the move as a way to address the market's unique needs.

“Vietnam has shown tremendous potential in crypto, but yet the market still needs platforms that truly understand and cater to its unique audience. BitEXC was created to bridge this gap by providing local support and products customised to fill the needs of its crypto users,” she stated.

Initially, BitEXC offers peer-to-peer (P2P) trading, with plans to introduce spot and futures trading soon.

Payments can be made via ViettelPay, Momo, and ZaloPay, ensuring compatibility with Vietnam's popular digital payment platforms.

An Earn program and copy trading features are set to launch in the next three months.

The platform benefits from Bitget's established infrastructure, including the $300 million Bitget Protection Fund, which is self-financed and held in Bitcoin (CRYPTO:BTC) and Ether (CRYPTO:ETH).

This fund is designed to safeguard users from market volatility.

BitEXC’s launch aligns with Vietnam's ongoing embrace of blockchain technology.

In October, the Ministry of Information and Communications unveiled a National Blockchain Strategy, aiming to provide legal recognition for digital assets.

Bitget, which boasts over 45 million users globally, reported a $700 million capital inflow and a 50% traffic increase in the second quarter of 2024.

The launch of BitEXC coincided with the listing of Hedera (CRYPTO:HBAR) on Bitget’s platform.