Bitget, a cryptocurrency exchange company, plans to hire 60 team members for their new office in Dubai, as part of their Middle East expansion and global scaling strategy.
The online trading platform aims for the advancement of crypto penetration and adoption across crypto-friendly markets like Bahrain and the United Arab Emirates (UAE) including Dubai, Abu Dhabi, and Ras Al Khaimah. The new hires at the Crypto exchange firm's regional headquarter will be assigned various mid-office and back-office functions.
Acknowledging the ME expansion strategy, Gracy Chen, Managing Director of Bitget, said, “We hope to scale our Middle East team rapidly to support business growth, with between 30 to 60 hires over the next 2 years or more across the Middle East region. New team members will include various mid-office and back-office functions. We may consider selecting Dubai as an operational hub for the Middle East market. This move is not just about business, it is about our core values, which rest on advancing blockchain and crypto adoption worldwide.”
Bitget set up an office in Turkey earlier this year and presently provides fully-localised services through its online trading platform. Additionally, in response to the increasing demand for online trading platforms in the targeted Middle East markets, the company has already begun the process of applying for licenses. Obtaining the necessary regulatory approvals and licenses is a priority for establishing regional offices in these markets.
In recent months, Bitget has been expanding its operational presence on a global scale, with registrations as a VASP (Virtual Asset Service Provider) in Poland and a similar crypto registration in Lithuania.
With 9.2% of global transactions from 2021 to 2022, the Middle East and North Africa (MENA) has emerged as the fastest-growing cryptocurrency industry. Notably, the UAE recorded a 400% growth in registered crypto businesses in the past two years, fueling a substantial rise in global digital asset trading, accounting for approximately 10% of the total global volume. Additionally, the region experienced a remarkable 300% growth in blockchain-related educational programs and holds a significant share of 8% in all mining hash rates.