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Bitget Registers As Financial Services Provider In New Zealand

Created at 23 Jul · 1:06 AM1 source↑ Market-relevant
IN SHORT

Crypto exchange Bitget has been registered as a Financial Services Provider in New Zealand, allowing it to offer services including foreign currency exchange, money transfers, and client asset custody. The company has also joined the New Zealand Insurance and Financial Services Ombudsman Dispute Resolution Scheme.

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Key Numbers

$70 billionBitget perpetual futures trading volume milestone

Who's Involved

Bitget
Crypto exchange registered as Financial Services Provider in New Zealand
Gracy Chen
CEO at Bitget
New Zealand Insurance and Financial Services Ombudsman (IFSO)
Dispute Resolution Scheme joined by Bitget

↳ Why This Matters

Bitget's registration as a Financial Services Provider in New Zealand signifies a step towards greater regulatory compliance and global expansion for the crypto exchange, potentially increasing trust and accessibility for users in the region.

Key facts

  • Bitget has been registered as a Financial Services Provider (FSP) in New Zealand.
  • The registration allows Bitget to offer foreign currency exchange, money transfers, client asset custody, and portfolio management.
  • Bitget can execute financial products and foreign exchange transactions on behalf of clients.
  • Bitget has joined the New Zealand Insurance and Financial Services Ombudsman (IFSO) Dispute Resolution Scheme.
  • Bitget is working on its Universal Exchange (UEX) model to connect various asset classes to a single platform.

Crypto exchange Bitget has secured registration as a Financial Services Provider (FSP) in New Zealand, enabling it to operate within the country's financial services landscape. This registration places Bitget on the Financial Service Providers Register (FSPR) and permits it to offer a range of services, including foreign currency exchange, domestic and cross-border money transfers, client asset custody, and portfolio management. Additionally, Bitget can facilitate the execution of financial products and foreign exchange transactions on behalf of clients.

As part of its commitment to customer grievance resolution, Bitget has also joined the New Zealand Insurance and Financial Services Ombudsman (IFSO) Dispute Resolution Scheme, an independent body for resolving disputes with financial services companies. This move aligns with Bitget's broader strategy to enhance its compliance and operational framework globally, supporting a wider mix of assets and services, including traditional market instruments, foreign exchange, and tokenized real-world assets.

Gracy Chen, CEO at Bitget, emphasized the importance of compliance structures that can accommodate diverse asset classes. She stated that the New Zealand registration further strengthens the platform's international financial services framework, connecting digital assets with established markets. Bitget is developing its Universal Exchange (UEX) model, designed to integrate cryptocurrencies, tokenized securities, commodities, and foreign exchange products onto a single platform. The company continues to expand its services through registered entities and qualified partners across various jurisdictions.

Frequently asked questions

Bitget can offer foreign currency exchange, domestic and cross-border money transfers, client asset custody, portfolio and money management, and execution of financial products and foreign exchanges on behalf of clients.

It is an independent scheme that provides customers with an alternative avenue for grievance and resolution with financial services companies.

The UEX model aims to connect various asset classes, including cryptocurrencies, tokenized securities, commodities, and foreign exchange products, to a single platform.

What Happens Next

01Bitget continues to expand services through registered entities and qualified partners.

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How It Developed

Bitget registered as a Financial Services Provider in New Zealand.
The registration allows Bitget to offer foreign currency exchange, money transfers, and client asset custody.
Bitget joined the New Zealand Insurance and Financial Services Ombudsman Dispute Resolution Scheme.
Bitget is developing systems to service a wider mix of assets and services, including tokenized real-world assets.

Sources

T1
Bitget Registers As Financial Services Provider In New ZealandCoinGape

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