Bitget CEO Gracy Chen stated that as millions of Africans use Telegram, the rise of TON aided Bitget’s user growth in the region.
Crypto exchange Bitget has reported a significant milestone, surpassing 45 million users worldwide as it celebrated its sixth anniversary.
On September 18, the platform announced that its user base had nearly tripled since 2023, with most of the growth coming from Africa, South Asia, and Southeast Asia.
In Africa, Bitget recorded a staggering 1,614% increase in users as the region continues to explore the Web3 space. South and Southeast Asia also saw substantial growth, with user numbers rising by 729% and 216%, respectively.
Memecoins, P2P, and TON Fuel Growth in Africa
Bitget CEO Gracy Chen shared with Cointelegraph that the platform’s growth is largely driven by three key factors: the expansion of its peer-to-peer (P2P) marketplace, the growing popularity of memecoins, and the rise of the TON ecosystem.
Chen explained that Bitget’s P2P market aligns with crypto’s original purpose—enabling value exchange. She said:
“We have a strong P2P market where people can trade crypto for fiat in a secure and trustworthy environment. Given the difficulties with bank transfers and the inaccessibility of banking services, this remains the primary way for many to maintain financial freedom.”
Chen also highlighted that memecoins “played a huge role” in the platform’s growth in Africa, as the region embraced opportunities in the memecoin sector, with Bitget providing a supportive platform.
Additionally, the TON ecosystem’s emergence contributed to Bitget’s expansion in Africa. Chen pointed out that many Africans are frequent users of the Telegram messaging platform, which has become a gateway into crypto.
“Millions of Africans use Telegram on a daily basis, and it has become a gateway into the world of crypto for millions,” Chen noted, adding that Bitget positions itself as a “TON-friendly” platform.
Rapid Growth Tests Platform’s Resilience
When asked about the challenges of managing such rapid user growth, Chen acknowledged that it continually tests Bitget’s capacity to handle increased demand across various aspects, including technical infrastructure, security, and support teams.
Despite the challenges, Chen expressed confidence in Bitget’s ability to meet the demands, noting that the company’s 1,500-strong workforce is prepared to respond and continue pushing the industry forward.
