Bitget considers US market entry with local partnership strategy

Bitget CEO Gracy Chen has indicated that the cryptocurrency exchange is contemplating a potential entry into the U.S. market, driven by expectations of a more favorable regulatory environment under the upcoming Trump administration.

In a recent interview, Chen acknowledged the challenges posed by compliance and emphasised the necessity of securing a local partner to navigate the complex regulatory landscape.

Despite previous attempts to expand into the U.S. in 2022, which were halted due to licensing issues, Chen's latest remarks suggest a renewed interest in exploring this opportunity.

“We are revisiting a US strategy, although we have not decided on anything yet. If we had a local partner who has many of those licenses already, then we could do a joint venture, for example,” she stated.

The U.S. remains one of the largest markets for cryptocurrency, but international exchanges often face significant obstacles when trying to establish a presence there.

For instance, Binance’s U.S. branch encountered substantial fines last year.

However, Chen's outlook has shifted with Donald Trump's election, as he has pledged to implement pro-crypto reforms that could facilitate market entry for exchanges like Bitget.

With the appointment of a Crypto Czar and a new SEC Chair aligned with these goals, there is optimism about an impending regulatory shift.

Bitget has experienced substantial growth in 2024, with its token (BGB) reaching an all-time high and gaining nearly 400% this year.

This surge positions Bitget favorably for potential expansion.

Nevertheless, Chen remained cautious about confirming any plans for U.S. expansion.

She noted that while the firm is capitalising on current market enthusiasm, they are still assessing their strategy and weighing the complexities of compliance at both federal and state levels.