Crypto exchange Bitget has celebrated its sixth anniversary by announcing a remarkable surge in its user base, now exceeding 45 million globally. As of September 18, the platform revealed that its user count has nearly tripled since the beginning of 2023, with notable growth primarily occurring in regions such as Africa, South Asia, and Southeast Asia.
Bitget’s user growth per quarter from 2021 to 2024. Source: Bitget
In Africa, Bitget has recorded an astounding 1,614% increase in users, reflecting the region’s enthusiastic embrace of the Web3 landscape. Meanwhile, in South Asia and Southeast Asia, user growth was reported at 729% and 216%, respectively.
**Key Drivers of Growth: Memecoins, P2P, and TON in Africa**
Bitget’s CEO, Gracy Chen, shared insights with Cointelegraph, attributing this remarkable expansion to three pivotal factors: the growth of their peer-to-peer (P2P) market, the surge in popularity of memecoins, and the rise of The Open Network (TON) ecosystem.
Chen emphasized that Bitget’s P2P platform aligns with the original vision of cryptocurrency as a medium for value exchange. She stated, “Our P2P market is at the heart of what crypto was designed to accomplish.”
Furthermore, Chen noted that memecoins have significantly contributed to the platform’s success in Africa. As local users flock to the memecoin sector, Bitget has positioned itself as a supportive platform for these opportunities.
Additionally, the emergence of the TON ecosystem has played a role in Bitget’s African growth. Chen highlighted that many Africans are swiftly engaging with Web3 technologies through the widely used Telegram messaging app. “Millions of Africans use Telegram daily, making it a crucial entry point into the crypto world,” she explained, adding that Bitget proudly identifies as a “TON-friendly” platform.
**Challenges of Rapid Growth**
When questioned about the hurdles posed by such rapid user expansion, Chen acknowledged that it continually tests the company’s capacity across various domains, including technical infrastructure, security, and customer support.
Nonetheless, Chen is confident that Bitget’s team of 1,500 employees is well-equipped to tackle these challenges and propel the industry forward.
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