Cryptocurrency exchange Bitget has registered in Seychelles, Africa, to aid its global expansion plan to scale its product offerings worldwide. As a centralised exchange betting big on Web3, the company said that the lack of physical headquarters enables it to attract and recognise talents across the globe.

Seychelles is a Friendly Region for Crypto

Speaking on the latest development, Bitget managing director Gracy Chen said that the exchange sees the African country as a friendly region for the crypto community. She added that the registration would help strengthen the company’s banking relationships and form new collaborations.

Despite current market sentiments that have prompted several firms to lay off employees to stay afloat and maintain operational costs, Bitget plans to increase its headcount next year. The crypto exchange said it would hire more employees to boost its workforce to 1200 come 2023.

Over the past few weeks, Bitget has taken various measures to build up trust among users due to the growing fears surrounding centralised exchanges regarding customers asset’s safety following the fall of FTX. Thus, Bitget has increased the size of its Protection Fund to $300 million.The company also launched a $5 million Builders’ Fund dedicated to software developers who create and deploy innovative crypto projects in the industry.

~ By William A. Frederick ~