In an exclusive interview with BeInCrypto, Gracy Chen, CEO of Bitget, shared her insights on cryptocurrency adoption, Bitget’s market growth strategies, and her commitment to gender equality within the industry.
The discussion highlighted key aspects of Bitget’s initiatives and Chen’s vision for the future of digital assets.
Who Is Gracy Chen?
Gracy Chen is the CEO of Bitget, a leading crypto exchange and Web3 company. Since joining Bitget as Managing Director in 2022, she has driven the company’s global strategy, secured partnerships with high-profile figures like Messi, and expanded the user base fourfold.
As CEO, she focuses on global business growth, market compliance, and fostering a strong organizational culture while integrating blockchain technology with philanthropic efforts.
Beyond her contributions to the crypto industry, Gracy is a passionate advocate for gender equality. In 2015, the World Economic Forum recognized her as a Global Shaper. She recently addressed the United Nations Women CSW68 conference, discussing critical issues affecting gender equality and women’s rights.
Her leadership in promoting diversity and empowering women has made her a prominent figure in the crypto industry and the global women’s rights movement.
Bitget’s Impact on Crypto
Q: As CEO of Bitget, how are you contributing to cryptocurrency market growth, and what specific initiatives have you led to enhance adoption and accessibility?
A: As 2024 kicked off, we outlined several areas we want to prioritize in our development strategy. One of them is expanding our presence in emerging markets: LATAM, Southeast Asia, and Africa. Crypto adoption in these regions is rapidly increasing, and we are eager to support this trend. Second, we are allocating significant resources to Web3 and Bitget Wallet. Building our on-chain layer is crucial for sustaining the long-term growth of our business and making the Internet more decentralized and equitable.
Finally, integrating crypto into people’s daily lives is also something we strongly emphasize. In late 2023, we launched a crypto card that allows users to pay with crypto wherever VISA is accepted. As retail and institutional investors continue to flock into the blockchain industry, we will keep creating conditions for their comfortable onboarding.
Q: What is Bitget doing to promote diversity in the Web3 space, and what advice do you have for women entering the cryptocurrency and blockchain industry?
A: At Bitget, we’ve always strived to address inequalities in all forms. Diversity is not just a word for our company: in our team of 1,500 individuals, we welcome everyone irrespective of their gender, nationality, or views.
As a woman and a single mother, I know that women are underrepresented (and sometimes even discriminated) against in the crypto and tech industries. I have experienced this myself throughout my career.
That’s why we launched the Blockchain4Her initiative, which aims to empower women in crypto, widen their networking and investment opportunities, and support female entrepreneurship. Regarding diversity, we’ve also invested in the Blockchain4Youth project to create more of a presence for the younger generation in our industry.
To all women out there who face gender bias in their careers: I feel you. Stick to your values and intrinsic motivation, and you will make your way through despite all the challenges.
The Future of RWA Tokenization
Q: How will the tokenization of real-world assets transform the cryptocurrency market, especially in attracting traditional investors and increasing stability?
A: Tokenizing real-world assets can significantly improve the liquidity of traditionally illiquid assets like real estate, artwork, and other high-value items. Tokenization allows fractional ownership and trading on blockchain platforms, making it easier to sell and trade these assets quickly. This increased liquidity can lead to more stable asset prices and a more resilient market overall.
For traditional investors, tokenized assets provide new diversification opportunities: they can now hold a mix of digital and physical assets in their portfolios, potentially reducing risk and increasing returns. This blend of asset types can attract more traditional investors to the cryptocurrency market, bridging the gap between conventional finance and the digital asset space.
Integrating real-world assets into the crypto market can also help mitigate systemic risks by creating a more diversified market. During periods of high volatility in the cryptocurrency market, the presence of stable, asset-backed tokens can provide a stabilizing effect. This integration will likely contribute to the overall maturity of the crypto market, improving market infrastructure, regulation, security, and transparency, thereby fostering a more robust and stable ecosystem as more institutional and traditional investors participate.
Q: What are Bitget’s main challenges and opportunities in facilitating real-world asset tokenization, and how is your platform addressing these?
A: We see the tokenization of real-world assets as one of the cornerstone trends in today’s finance. RWAs will transform the way people own and exchange things, adding liquidity and transparency to previously illiquid assets. This is inspiring because tokenization will make crypto closer to millions of people, demonstrating a robust real-world (literally!) use case for blockchain.
In our effort to support RWA initiatives, we recently partnered with Tomarket, the fastest-growing dApp on TON (1 million users in five days!)—a decentralized marketplace for trading RWA assets. Explaining the value of RWA to broad audiences might still be challenging, so simplifying the UX and expanding the number of such partnerships sounds like a good way to go.
Bitcoin, Ethereum, Meme Coins Outlook
Q: With spot Bitcoin and Ethereum ETFs now approved and Bitcoin’s halving in April, how do you view current cryptocurrency adoption among retail and institutional investors?
A: These incidents will likely accelerate the broader acceptance of cryptocurrencies as legitimate investment assets. They could drive more retail and institutional investors to consider crypto as part of their portfolios, enhancing overall adoption.
The increased adoption could further integrate blockchain technology into the financial system, boosting its transparency, security, and efficiency. As more investors engage with crypto, the tech’s potential benefits could become more widely recognized—and utilized—in the financial sector.
Given the global nature of cryptocurrencies, adoption trends in major markets like the U.S. can significantly influence global regulatory and investment landscapes. As the U.S. and other key markets embrace crypto, it could set precedents that shape regulatory approaches and investor behavior worldwide.
Q: Will the meme coin trend, with coins like Dogecoin and Shiba Inu, sustain its momentum, and how do you see their future utility and adoption in the crypto ecosystem?
A: I believe the memecoin trend will remain strong in the short to medium term. Currently, they are the go-to tokens for market speculation. As long as there is a demand for hype and new trends in the market, new memecoins will keep emerging. Platforms like Pump.fun and Moonshot have simplified and cheapened the process of launching new coins, allowing anyone to create them and accelerating this sector’s growth.
Despite their popularity, memecoins face the challenge of consensus decay. These coins rely on strong community consensus to gain traction and increase in value. Over time, however, the hype and consensus tend to wane, shortening their life cycles. To combat this, many memecoin communities are adding utility features, like token governance and Bonk’s Telegram Bot, to maintain and strengthen community consensus.
In conclusion, integrating practical functions and business scenarios into meme projects has a positive impact on the crypto ecosystem. It enriches the ecosystem and stimulates on-chain activity, showing good potential for future development. Despite their challenges, memecoins will likely continue to play a significant role in the crypto space.
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