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Investors in this round of financing include Ceyuan Digital Fund, HashKey, Weihun Capital, Dragonfly, NGC, LinkVC, Zhizhen Capital and other top investment institutions.
BitWell, an international derivatives service platform focusing on blockchain digital assets, received a strategic investment of US$30 million. Investors in this round of financing include: Ceyuan Digital Fund, Dragonfly, Weihun Capital, Shuaichu, NGC, SNZ, HashKey, Youbi Capital, Hash Global, LinkVC, Keyin Capital, Zhongfu Investment, Zhizhen Capital, Red Chain Capital and other top global investment institutions and individuals.
BitWell officially stated that this round of financing means that more top global capital recognizes the BitWell team and business model, which is more conducive to the global strategic layout of the platform. The BitWell team will continue to work hard, continue to innovate and optimize products, and provide users with more abundant digital asset derivatives services.
Launch of DeFi options, team internationalization
The digital asset derivatives service platform BitWell is headquartered in Singapore. It is a decentralized team composed of international elite teams from different countries and regions such as Europe, America and Asia Pacific. The core backbone comes from Morgan Stanley, IBM, Paypal and other world-renowned financial institutions. As well as technology companies, members in the Asia-Pacific region come from leading Internet companies such as Tencent, Baidu, and Sina. Many of the core members have multinational work backgrounds and have deep ploughing in the financial transaction field on Wall Street and have rich practical experience in blockchain asset transactions. The genes of cross-industry integration have created a derivatives service team that perfectly matches digital assets.
BitWell has always focused on the optimization and innovation of digital asset derivatives, and is the world’s first professional option product service platform that supports mixed margin. The main product option easy selection is very friendly to ordinary users. The three-step completion of the order makes option transactions as simple as currency spot transactions. Users do not need to worry about liquidation like contracts or excessive learning costs like traditional options.
Prior to this, on August 10, BitWelll launched the world’s first DeFi option, and investors can participate without holding DeFi project tokens.
Industry senior practitioners joined
On August 25th, BitWell officially announced that one of its investors, Jeff Young, an early employee of Binance, will become the global chief executive officer (CEO).
Jeff Young has held important management positions at Sina and Tencent. He has ten years of experience in financial products. He joined Binance in the early days of its establishment and witnessed the whole process of the world’s first exchange from 0 to 1. After leaving Binance, he founded Block Vision Capital, determined to help more blockchain projects and teams grow.
After transforming investors, Jeff Young came into contact with the BitWell team, and served as the team’s chief product advisor while investing, and then took the position of BitWell’s global chief executive officer (CEO) under the recommendation of other investors.
On August 26, BitWell officially announced that a well-known KOL in the blockchain industry, Yuzhu, the former vice president of Matcha market, became the global chief marketing officer (CMO).
Yuzhu is a senior practitioner in the blockchain industry, a well-known KOL, the founder of Yuyan Studio, a well-known financial blogger on Weibo, a former MXC matcha market vice president, and a former HPB core chain partner and marketing director.
During his tenure as Vice President of Matcha Marketing, Yuzhu built a market strategy and strategy system for the Matcha platform from 0 to 1. While helping to enhance the platform’s visibility, reputation and loyalty, it also allowed the industry and users to recognize the Matcha brand. Knowledge becomes formal, head, mainstream and international.
Optimistic about the digital asset derivatives track
In the current digital asset exchange field, there are problems such as insufficient industrial concentration, low efficiency, and insufficient professionalism, and there are a lot of business and capital opportunities.
BitWell officially stated that the digital asset derivatives market is growing, but it is mainly based on futures trading, and the existing futures trading has exposed many problems, which can no longer meet the needs of investment. At present, in the field of digital asset derivatives, there is no platform with comprehensive products. BitWell’s goal is to build a comprehensive derivatives platform with a comprehensive product line. This is also the investment of Ceyuan Digital Fund, Dragonfly Digital Capital, etc. An important reason why institutions are very optimistic and invest.
In the future, in addition to options, BitWell will also launch perpetual contracts, as well as various other innovative derivatives to provide users with a more comprehensive and diversified product experience.