BitWell receives 30 million USD strategic investment

NEW YORK, NY / ACCESSWIRE / September 16, 2020 / According to Twitter, global derivatives service platform BitWell, recently announced strategic investments of 30 million US dollars.

Investors include Ceyuan Digital Assets, Dragonfly Ventures, Will Hunting Capital, Shuai Chu, NGC, SNZ, HashKey, Youbi Capital, Hash Global, LinkVC, CollinStar Capital, Zonff, Conifers Capital , Red Blockchain Capital and other top global venture capitals and celebrities.

BitWell states, this round fundraising means more top global capitals recognize the business model of BitWell and the team, which is more conducive to their global strategic layout. The BitWell team will be insistent on innovating and optimizing products, to provide users with more abundant digital asset derivatives services.

A professional derivatives service platform created by a multinational team

BitWell is headquartered in Singapore. It is a decentralized team composed of international elites from various regions such as Europe, America and Asia Pacific. The core members come from Morgan Stanley, IBM, Paypal and other world-renowned financial institutions. Employees in the Asia-Pacific region come from top Internet companies such as Tencent, Baidu, Sina and other top companies in this area. Many of them have multinational work backgrounds, deeply involved in the financial transaction area on Wall Street, and own rich practical experience in blockchain. The cross-industry gene created such a great team that perfectly matches the crypto derivatives industry.

BitWell has always been focusing on optimization and innovation of digital asset derivatives, and it is the first platform which has professional options that support mixed margin. The Star Product – simple option is pretty friendly even to new users, there are only three steps needed to complete an order, making options tradings as simple as spot tradings. It is not necessary to worry about liquidation like futures or excessive learning costs for traditional options.

Prior to this, BitWelll launched DeFi options for the first time ever on August 10. Users are able to participate without holding any DeFi tokens. Many DeFi options have raised over a hundred times since launch.

Senior practitioners aboarded

On August 25th, BitWell officially announced Jeff Young, one of their investors and a former employee of Binance, as the global chief executive officer (CEO).

Jeff Young once held important management positions at Sina and Tencent, which gave him ten years of experience in financial products. He joined Binance in the early days of its establishment and witnessed how this world’s leading crypto exchange grew from 0 to 1. After leaving Binance, he founded Block Vision Capital, with a vision to help more blockchain projects and teams grow.

After transitioning into an investor, Jeff Young got acquainted with the BitWell team. He started his career at BitWell as the chief product advisor and investor, and later, under the recommendation of other investors, became the global CEO.

August 26, BitWell announced that Yuzhu, the founder of Yuyan Studio, as its Global Chief Marketing Officer (CMO).

Yuzhu is an experienced practitioner and a famous KOL in the blockchain industry. She is well known for her financial blog on Weibo. She once held positions at MXC as vice president and HPB as partner and Marketing Director.

When she served as vice president at MXC, Yuzhu built a market strategy system from scratch up, enhancing the popularity, reputation and customer loyalty of the platform. Meanwhile, it allowed the industry and users to recognize the MXC brand as fully regulated, industry-shaping, mainstream, and international.

Digital asset derivative is the future

In the current digital asset exchange area, there are problems such as insufficient industrial concentration, low efficiency, and insufficient professionalism, due to which a lot of business and investment opportunities emerge.

According to Bitwell, the digital asset derivative market is constantly growing. But with futures trading taking a majority part and an increasing number of problems in futures trading exposed, the market now cannot meet the needs of investment. Till now, there is no platform that can offer comprehensive products of all aspects in the field of digital asset derivatives. BitWell’s goal is to build a comprehensive derivatives platform with a rich product line. This is one of the reasons why Ceyuan Digital Assets, Dragonfly Ventures and other investment institutions thought highly of it and invested.

Besides options, BitWell also plans to launch perpetual contracts and other types of innovative derivatives to provide users with a more comprehensive and diversified product experience.

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SOURCE: Bitwellex

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