Crypto exchange Bitget has re-entered the UK marketplace.
According to a statement distributed by the firm, Bitget is now in compliance with Financial Promotion requirements.
Bitget issued the following statement back in May of 2024:
“As you may be aware, recent regulatory changes by the FCA require cryptoasset providers to implement additional measures. We are hard at work to finalise approval of the implemented measures and until we do, we will temporarily restrict onboarding of new users in the UK. We apologize for the inconvenience. We will be back soon with a new compliant product offering for the UK on our website and mobile applications.”
Bitget is based in Seychelles and claims 45 million users trading around $10 billion in daily volume, listing 150 digital assets.
Bitget stated that it is committed to meeting the UK’s demand for access to crypto trading. The Archax approval will now allow Bitget users in the UK to trade crypto and custody services for a range of assets, including tokenized real-world assets. Archax is a London-based exchange, custodian, and broker for digital assets that is registered with the FCA. Financial promotions offered by offshore crypto exchanges must be vetted by a UK provider.
Gracy Chen, CEO at Bitget, said that compliance is core to their operation and the re-launch in the UK is a “step towards establishing Bitget as a long-term, compliant partner in diverse markets, providing investors with a platform to explore digital assets.”
Launched in 2018, Bitget serves users in 150+ different countries. It offers a multi-chain crypto wallet, NFT market and more.
