VICTORIA, SC – Bitget has launched a $100 million fund to support web3 startups, according to a company blog post. Despite the bear market, the Bitget Web3 Fund promotes crypto adoption, supports innovative blockchain projects, and develops the web3 ecosystem. 

Based in Seychelles, Bitget is targeting businesses founded in jurisdictions outside the U.S. as several Asian countries are gearing up to develop their own web3 frameworks. Japan recently released a whitepaper outlining a web3 ecosystem to boost the crypto industry, and Hong Kong has enacted crypto regulations. 

The Bitget Web3 Fund is endowed by the company, with the exchange’s solid financial position built on steady development and fast growth. By launching the fund, Bitget is holding to its ‘Go beyond derivative’ strategy.