Key Takeaways
- Bitget Wallet and Foresight X have invested in Tomarket, a decentralized trading platform developed by experts from Binance and Microsoft.
- Tomarket aims to address gaps in traditional DEXs by facilitating the trading of new asset types like Real World Assets (RWA), crypto asset yields swaps, crypto points, and pre-TGE assets.
- Tomarket will launch as a Telegram mini-app in July, providing a user-friendly entry point for traders.
Bitget Wallet and web3 investment firm Foresight X have jointly invested in Tomarket, a decentralized trading platform for emerging asset classes.
Tomarket aims to address gaps in traditional DEXs
2024 has marked a turning point for the crypto industry, spurred by the U.S. SEC’s recent approval of spot Bitcoin ETFs, legislative shifts and growing political support for crypto. These favorable conditions have resulted in the rise of new asset classes like crypto project points and RWA assets. These assets, despite their high potential and growing demand, have struggled with issues such as poor liquidity and high transaction trust costs. The lack of a comprehensive trading platform has further complicated their adoption and integration into the broader financial ecosystem. Tomarket addresses this challenge by providing a robust platform dedicated to these new asset types.
Developed by experts with backgrounds at prestigious firms such as Binance and Microsoft, Tomarket is designed to facilitate trading in Real World Assets (RWA), crypto asset yields swaps, crypto points, pre-TGE assets, and other new asset types. This initiative aims to enhance liquidity and value discovery in these sectors, tapping into a trillion-dollar market potential.
Alvin Kan, COO of Bitget Wallet, emphasized the strategic importance of this investment. “Trading has always been at the heart of the crypto industry. Beyond traditional token assets, new asset types such as RWAs and points deserve significant attention,” he stated.
Kan highlighted Bitget Wallet’s commitment to evolving with user needs through this investment and product collaboration with Tomarket. “We aim to explore and develop markets beyond traditional DEXs, driving the growth of new crypto asset trading, thus cementing our dedication to catering to new user needs as they present themselves.”
Bitget Wallet and Foresight X have not disclosed the amount and financial terms of their investment in Tomarket.
Strategic Integration and Launch
Earlier this year, Bitget Wallet introduced the Bitget Onchain Layer, an intermediary designed to help users navigate the Web3 ecosystem. As the first ecosystem partner of the Bitget Onchain Layer, Tomarket will be deeply integrated into Bitget Wallet.
This partnership will also expand the use cases for BWB, Bitget Wallet’s native token, marking the beginning of sustained ecosystem growth and increased user engagement.
Scheduled for launch in July, Tomarket will initially be available as a Telegram mini-app, offering users a convenient and user-friendly entry point into the platform.
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