The leading cryptocurrency exchange Bitget revealed its plans to expand into the Middle East region, specifically the United Arab Emirates and Bahrain. 

The financial heart of the UAE – Dubai – has turned into a hotbed of cryptocurrency activity, attracting numerous companies with its friendly approach to the industry. Binance, Bybit, OKX, and other exchanges have recently obtained approval to offer services in the area. 

A Move Focused on ‘Core Values’

According to a recent announcement, Bitget is preparing to expand its presence in the Middle East by establishing regional headquarters and recruiting more team members in the next two years. The new employees will be responsible for certain mid-office and back-office duties.

“We hope to scale our Middle East team rapidly to support business growth, with between 30 to 60 hires over the next two years or more across the Middle East region. New team members will include various mid-office and back-office functions.”

Bitget revealed that it might pick Dubai as an operational hub for the Middle East market. Managing Director Gracy Chen said this move “is not just about business, it is about our core values, which rest on advancing blockchain and crypto adoption worldwide.”

The exchange has already started exploring ways to secure the necessary licenses from domestic regulators. The step is considered a top priority since it will support expansion and enable the firm to open regional offices.

Bitget has previously displayed its intentions to increase its workforce by 50% (going from 800 workers to 1200) in Africa. Engineers and marketing professionals are among those that could aid its expansion mission on the continent. 

Bitget’s Recent Success

Despite the market’s decline last year and the numerous negative events in the crypto sector, the exchange inked some major partnerships. 

For one, it continued its collaboration with the Italian soccer giant – Juventus. It also teamed up with the seven-time Balon d’Or winner – Lionel “Leo” Messi. The athlete serves as a brand ambassador of the exchange, and some of his duties include introducing Bitget’s products and services to sports fans and organizations.

Interestingly, the exchange emerged as one of the winners following the gigantic collapse of FTX. It increased its derivatives trading volume to $204 billion. The average figure was $194 billion six months before the meltdown.