Bits and Bytes: BitKeep changes its name to Bitget Wallet after broker investment

A week ago, Bitget announced its investment of US$ 30 million in BitKeep, increasing its stake and becoming the controlling shareholder (Image: Bitget/Disclosure)

BitKeep wallet cryptocurrency self-custody founded in 2018, announced this Wednesday (29) its new plan for 2023. After receiving an investment of US$ 30 million from Bitget, a crypto brokerage, the wallet undergoes a rebranding and is now called Bitget Wallet.

The plan includes launching a new brand, restructuring the management team and strengthening the wallet’s security system, according to the company.

A week ago, Bitget announced its $30 million investment in BitKeep, increasing its stake and becoming the controlling shareholder.

As communicated by Bitget, in addition to increasing the range of services offered by the exchange, the investment also provides BitKeep with greater support for global expansion and security updates.

Under the 2023 plan, BitKeep has initiated a rebranding “to provide a more uniform visual presence” as part of the Bitget ecosystem.

With this redesign, the wallet will be called Bitget Wallet, and the logo, app and website will also be updated in the coming weeks, according to the company.

Bitget has plans for BitKeep in 2023

BitKeep announced that, along with the investment, several measures for its security infrastructure will be implemented.

Among the measures communicated are a more rigorous pre-release review process, partnerships with security auditing companies such as Certik, inclusion of MD5 verification for APK packages, and compatibility with hardware wallet providers such as KeyStone.

In addition company states that the integration will enable BitKeep users to be protected by Bitget’s $300 million Protection Fund against security threats in the future.

BitKeep also stated that all users affected by the security incident last December were fully compensated.

The plan also highlights the development of a more product-focused team. Kevin Como, one of the co-founders of BitKeep, will step down as CEO of the company. Karry Cheung, current Chief Product Officer (CPO) of BitKeep, will be promoted as the new CEO.

Even after the investment, BitKeep will continue to function as an independent entity both operationally and structurally, according to Bitget.

Source: Moneytimes

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