Bitget, a global cryptocurrency exchange platform, has secured the eighth spot on Forbes’ list of the World’s Most Trustworthy Crypto Exchanges and Marketplaces. This recognition follows the company’s expansion into the Philippines, enabling digital asset conversion into pesos.
Forbes commended Bitget’s commitment to transparency and investor protection, noting that the company maintains full reserves for 100 percent of its assets and operates a $600-million user protection fund.
Last month, Bitget introduced Bitget Tokens and Wallet, granting Filipino users access to Bitget Pay and Bitget Card. These tools allow payments for dining, travel, fuel, and shopping while offering discounts at selected partner merchants.
“These developments align with the Philippines’ increasing adoption of digital payment solutions, providing an added choice for consumers who want to explore cryptocurrency as part of their financial habits,” said Jose Mendoza, Bitget Philippines country manager.
Investment Strategy and Market Growth
Like traditional stocks, cryptocurrency values fluctuate based on market supply and demand. To enhance returns for investors trading digital assets, Bitget has recently reduced token supply from 2 billion to 1.2 billion, effectively burning approximately $5 billion worth of tokens.
“This permanently removed a portion of tokens from circulation, making the remaining supply more scarce. Many crypto companies burn tokens to keep up with the demand, resulting in the token price growing over time,” Bitget stated last month.
Since its establishment in 2018, Bitget has experienced rapid growth, with user numbers soaring by 400 percent in the past year. The company now serves over 8 million users across more than 100 countries. Its spot trading volume has also surged from $160 billion to $600 billion.
“Bitget is working toward partnering with both local and international merchants to bring these services to a wide range of our consumers, blending the benefits of cryptocurrency with practical use cases,” Mendoza added.
Government Support and Future Prospects
To further drive cryptocurrency adoption in the Philippines, Bitget has implemented 24/7 Tagalog customer support and extensive educational programs.
Finance Secretary Ralph Recto expressed optimism about the growing participation of Filipinos in cryptocurrency investments, as the government develops comprehensive regulations for digital assets, drawing insights from the United States.
“Many Filipinos have invested in cryptocurrencies worth around P6 trillion,” Recto said.
He emphasized that the accessibility of digital platforms, such as e-wallets, along with the country’s youthful demographic, has fueled interest in cryptocurrency.
“I expect more crypto investments, especially with the digital economy. Ninety million Filipinos have e-wallets, and the population has a median age of 25 and they’re interested in crypto,” he added.
As digital payment adoption accelerates in the country, Bitget’s expansion reflects a broader shift toward integrating cryptocurrency into mainstream financial activities.
