MEMPHIS REISEN

Egypt leads MENA surge as Bitget Wallet sees 300% growth – Dailynewsegypt

Bitget Wallet, a leading Web3 wallet in Asia, has reported a staggering 300% growth in the Middle East and North Africa (MENA) region over the past 30 days, with Egypt leading the charge.

The full-stack, multi-chain trading wallet now serves over 20 million users globally, offering features like Swap, NFT Marketplace, a Dapp browser, and staking services. This surge in interest is reflected in download numbers, with Egypt ranking among the top 15 countries globally for Bitget Wallet.

“Non-custodial wallets are crucial for providing freedom and security to Web3 and crypto enthusiasts. The growing interest and crypto adoption in the MENA region, particularly in Egypt, is evident in the surge of Bitget Wallet downloads,” said Sam A Spiers, Regional Director for Bitget MENA.

The wallet boasts a wide range of features including DeFi services, cross-chain transactions for over 40 mainnets, data aggregation from hundreds of DEXs and bridges for optimal trading routes, numerous token pairings, gas-free transactions, and automatic slippage tools.

Security remains a top priority for Bitget Wallet. It utilizes a DESM encryption algorithm and shares a $400m Protection Fund with the Bitget Exchange. Additionally, the wallet implements MPC technology, provides proactive token risk alerts, and conducts regular smart contract audits with leading security firms.

“Our initial $30m investment aimed to transform the crypto wallet experience. We’re embracing the future of Web3 trading with faster transactions, unmatched DEX aggregation, and seamless cross-chain convenience,” said Alvin Kan, Chief Operating Officer of Bitget Wallet.

Market research aligns with Bitget Wallet’s growth, suggesting crypto wallets now represent nearly 25% of sales in the cryptocurrency market. Increased adoption and retailer acceptance of crypto payments could position wallets as a strong contender in the competitive digital payments landscape.