- Bitget entered the UK market with FCA compliance.
- It offers over 150 tokens for the UK users.
The seventh largest crypto exchange, Bitget has officially re-entered the UK market after a six-month interval. This follows compliance with the UK’s Financial Promotions Regime (FPR), which commands standards for promoting financial products, including crypto assets.
The exchange’s relaunch was through the partnership with Archax, a Financial Conduct Authority (FCA) approved entity, which ensures that the exchange’s promotional content meets all regulatory requirements.
Gracy Chen, CEO at Bitget states:
“At Bitget, compliance is the core of our expansion strategy. The entrance into the UK market under the regime allows us to bring users a wide variety of digital assets within the everchanging crypto landscape. This launch is a step towards establishing Bitget as a long-term, compliant partner in diverse markets, providing investors with a platform to explore digital assets.”
The relaunch provides British users with access to trade over 150 tokens, which outpaces many global competitors in the UK. This range underlines Bitget’s commitment to offering diversity and flexibility to UK investors while maintaining transparency and integrity in line with FCA regulations.
Regulatory Compliance of Bitget
The exchange’s renewed focus on compliance suggests a broader industry shift towards standing by the local regulations. The Financial Promotions Regime (FPR), introduced by the FCA, aims to prevent ambiguous crypto promotions.
It has considerably forced the firms to either adjust their strategies or exit the market. The legal team of Bitget, led by former Binance executive Hong Ng, states that maintaining strong compliance can go hand in hand with facilitating innovation.
Julia Loder, the head of regulation at Archax noted:
“We are dedicated to upholding high standards of the Regime, providing UK investors with access to a transparent trading experience.”
Notably, Archax facilitates trading and custody services, including tokenized real-world assets. The partnership with Archax highlights Bitget’s strategy to integrate advanced offerings while co-ordinating with the FCA’s rigid standards.
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