Memecoins, P2P, and TON Fuel 1,614% User Growth in Africa — Bitget

Cryptocurrency exchange platform known as Bitget has stated that it has been experiencing massive growth and has attracted over 45 million clients from across the world, all joining while it was the company’s sixth anniversary. Some factors that helped Africa to growth its user number by 1,614% are memecoins, its P2P marketplace, and the TON ecosystem.

Memecoins P2P TON Signal 1614% User Expansion Across Africa — Bitget

The Crypto exchange Bitget recently celebrated its sixth anniversary and is now setting new records, as the company’s user base has exceeded 45 million people all over the world. That is, we have seen almost tripling of user numbers since the year 2023, and the leaders in the growth rates are African, South Asian, and South-East Asian countries.

As per Bitget, Africa registered an impressive of 1,614% increase in the user base followed by South Asia and Southeast Asia with the increase of 729% and 216%, respectively.

Key Factors that catalyzed Growth in Africa

In a statement, Bitget CEO Gracy Chen attributed the platform's rapid growth in Africa to three primary factors: expansion of its P2P marketplace, the emergence of memecoins and the development of the TON ecosystem.

Beside Chen pointed that the P2P market enables users to trade crypto for fiat in a safe and credible manner, this is a fairly important factor considering the issues with bank transfer and rather limited access to conventional banking services in many African countries. Based on Chen the above has been great in ensuring that people can have financial liberty.

On the same note, memecoins were also instrumental in this growth as the Africans took advantage of chances in the segment. Bitget provided a solution that was in line with the rapidly growing memecoins so the opportunity to get involved was easier for users.

Moreover, the implementation of the TON ecosystem has even helped to expand the scope of Bitget operations in Africa as well. Chen mentioned millions of Africans today use Telegram daily as people’s first point of contact to the Web3. For this reason, and because Bitget is TON-friendly, it has been able to acquire millions of new users as its customers.

Challenges of Rapid Growth

While celebrating these milestones, Chen acknowledged that the surge in users has tested the platform’s ability to manage the growing load. This includes challenges related to technical infrastructure, security, and support teams. However, Chen expressed confidence that Bitget’s 1,500-strong workforce is well-equipped to handle these demands and continue advancing the industry.

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