Bitget Wallet announces investment in new asset trading platform Tomarket targeting trillionlevel trading markets beyond traditional DEX
Global leading Web3 wallet Bitget Wallet announced a joint investment with Foresight X in the decentralized new asset trading platform Tomarket. Tomarket, developed by developers from renowned companies like Microsoft, aims to cater to trading markets and user needs outside of traditional DEX. It facilitates the trading of new assets like RWA, Crypto asset interest rates, crypto points, Pre-TGE assets, among others, fostering increased liquidity and value discovery for related assets, exploring the potential trillion-dollar market value in this space. Tomarket is set to officially launch in July, initially opening up to users in the form of a Telegram Mini App.
In 2024, with the BTC halving and the approval of the BTC spot ETF by the US SEC, the crypto industry is witnessing another rapid growth phase. Non-standardized assets beyond traditional crypto assets are gaining attention, such as crypto project points, tokens pre-TGE, RWA assets, crypto bond yield swaps, among others. These assets have significant trading potential and strong trading demands, yet face challenges like poor asset liquidity and high trading trust costs. Moreover, the market currently lacks a comprehensive platform to meet the trading needs of such new assets, which is the backdrop and intent behind Tomarket’s creation.
It is estimated that the market size in this space could reach trillions of dollars. In the face of such a market with enormous potential yet numerous pain points, Tomarket is committed to unlocking the value and vitality of this space through product and mechanism innovation, driving the vibrant development of trading in new crypto assets.
Alvin Kan, Chief Operating Officer of Bitget Wallet, stated, “Trading has always been core in the cryptocurrency domain. Besides traditional token assets, new asset types like RWA, points are also worth attention. Bitget Wallet has always been dedicated to meeting users’ trading needs and hopes to promote the development of trading in new crypto assets through investment and collaboration with Tomarket on the product end, exploring markets beyond traditional DEX.”
In the roadmap released in May this year, Bitget Wallet announced the development of Bitget Onchain Layer, aiming to assist users in better interacting with the complex Web3 world, serving as an intermediate layer and decentralized future extension of the entire Bitget ecosystem. As the first ecological cooperative project of Bitget Onchain Layer, Tomarket will deeply collaborate with Bitget Wallet on the product side and incentivize loyal supporters of BWB in terms of ecosystem empowerment.
Bitget
Tomarket
