Bitget's first-quarter transparency report reveals that non-crypto trading now accounts for one-third of the platform's total trading volume, peaking at 40%. This significant growth comes just one quarter after Bitget launched its TradFi services in January. Despite Bitget's strong presence in the crypto market, where it holds a 9.5% share according to CoinGlass, its new TradFi business has quickly reached half the volume of its crypto operations.
The rapid expansion of TradFi trading highlights a broader trend among centralized exchanges (CEXs) to diversify into traditional financial services. Bitget's success is attributed to its UEX strategy, introduced in the fourth quarter of last year, which capitalizes on the growing market preference for cross-market asset trading. This strategic move has allowed Bitget to capture a significant portion of the market's incremental growth.
Bitget's TradFi Trading Volume Reaches One-Third of Total in Q1
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