Recently, users of Bitget in Latin America increased to 43%, with a 134% Surge in deposits. Owing to lawsuits By United States regulators against Binance and Coinbase, Crypto exchange Bitget has seen an increase in new accounts
Compared to daily averages, new users in the region increase, Brazil and Argentina leading market share growth. According to the exchange, new clients in Brazil soared by 54%, with a 208% jump in total deposits. In Argentina, its customer base increased by 33%, while funds deposited expanded by 87%. The crypto exchange also operates in Venezuela, Colombia and Mexico. Over the last few days, Bitget’s total deposits grew 134% in the region.
meanwhile, Bitget has over 8 million clients across 100 countries. The company did not disclose its total number of users in Latin America.
The figures became visible after recent legal developments in the United States due to allegations levied on binance by Securities and Exchange Commission ( SEC) on the Alleged sale and offer of securities failure to register as an exchange or broker, and commingling of customer funds.
” The crypto industry is still very new and has experienced tremendous growth in recent years. Favorable policies are being implemented in places like Hong Kong, Dubai, Singapore, and new opportunities are emerging. So, we are convinced that things will settle down over time, with the industry consolidating itself among the strongest ones in the modern economy,“ Bitget managing director Gracy Chen said
Currently, binance has previously ranked Brazil among its top global markets, with its local partner recently granted a payment provider license in the country