Bitget Wallet announces Investment in Decentralized Trading Platform Tomarket
Bitget Wallet has announced a joint investment with crypto investment company Foresight X in Tomarket, a decentralized trading platform for dealing with the latest asset classes.
We are proud to announce that we have secured major funding from our new partners @BitgetWallet and @ForesightVen.
— Tomarket 🍅 (@Tomarket_ai) June 28, 2024
This investment will help us to develop & expand the marketplace for new assets, including RWAs, crypto bond yield swaps, points, and Pre-TGE tokens. 🔗💎 pic.twitter.com/SYADDsvohx
The press release stated that Tomarket, which was created by professionals in the field from companies such as Microsoft and Binance, is designed to address user demands and markets that conventional decentralized exchanges (DEXs) are unable to satisfy.
In order to improve liquidity and value discovery in these sectors, the platform makes it easier to trade Real World Assets (RWA), crypto asset yields swap, crypto points, pre-TGE assets, and other new asset types.
Alvin Kan, COO of Bitget Wallet, expressed excitement for the partnership by saying, "Trading has always been at the heart of the cryptocurrency industry. In addition to conventional token assets, new asset categories like RWAs and points merit significant consideration."
He goes on to say that Bitget Wallet will continue to remain steadfast in its commitment to meet the changing needs of its users: "We want to explore and develop markets beyond traditional DEXs, driving the growth of new crypto asset trading, thus cementing our dedication to catering to new user needs as they present themselves through our investment and product collaboration with Tomarket."
The halving of Bitcoin and the SEC's approval of the Bitcoin ETF will both trigger a significant growth phase for the cryptocurrency industry in 2024. New asset classes and narratives, like crypto project points trading, pre-TGE tokens, RWA assets, and interest rates on digital assets, also emerged and grew rapidly during this period of growth, the press release added.
The demand for and trading potential of these new assets are great, but they also face many challenges, such as high transaction trust fees and limited liquidity. Furthermore, there isn't a comprehensive, one-stop platform available in the market currently to meet the trading needs of these new assets. Tomarket was developed expressly to overcome these challenges and maximize the full potential of these assets.
When Tomarket officially launches in July, it will initially be accessible to users as a Telegram mini-app, giving them a convenient and user-friendly way to get started on this innovative platform. Tomarket's ultimate goal is to capitalize on the immense trillion-dollar market that is occupied by these new narratives.
Bitget Wallet earlier this year announced the launch of the Bitget Onchain Layer, an intermediary layer designed to guide users through the complex Web3 ecosystem. Tomarket will be deeply integrated into Bitget Wallet as the first ecosystem partner of the Bitget Onchain Layer. This strategic partnership with Tomarket signals the beginning of a series of sustained ecosystem growth and user engagements for all Bitget Wallet users, along with the further expansion of use cases for BWB, the wallet's own native token.
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