Bitget Pledges $10 Million for Fetch.ai Ecosystem
Jessie A Ellis Apr 28, 2023 07:59
Bitget, a cryptocurrency derivatives exchange, has pledged $10 million towards the development of the Fetch.ai ecosystem. Fetch.ai provides infrastructure for autonomous services and features an AI agent network and smart wallet.
A big cryptocurrency derivatives exchange known as Bitget just just made the news that it will be spending $10 million towards the development of an ecosystem that is known as Fetch.ai. An artificial intelligence agent network is the primary offering made available by Fetch.ai, a startup that specializes in the provision of infrastructure for autonomous service providers. This network makes it possible for decentralized and autonomous agents to carry out a range of tasks, ranging from simple data processing to complex financial modeling. In addition, the smart wallet that is provided by Fetch.ai includes automation and interaction with OpenAI's ChatGPT API. This API was first introduced in January 2023 and has amassed a user base of one hundred million users in only a few short months after its debut.
The investment that Bitget has made in the AI infrastructure provider Fetch.ai has two main goals: one is to contribute to the firm's continued growth and the other is to encourage the extension of commercial partnerships that the company already has. Bitget cited the recent AI buzz that was generated by OpenAI's ChatGPT as evidence that the technology has the potential to increase human productivity and creativity. As part of the partnership, Bitget will provide marketing consultancy and other services to Fetch.ai in order to aid the firm in growing its clientele.
According to CoinGecko, Bitget is now the ninth largest cryptocurrency spot exchange in the world, with a daily transaction volume of $990 million in bitcoin. This information was obtained from Bitget. Bitget, a company that now serves over 8 million consumers, has its headquarters in the Seychelles. The company's clientele is spread out throughout more than one hundred countries and territories. In April 2023, Bitget was awarded a regulatory license, which cleared the way for the firm to start providing its services to customers in Lithuania. In the previous month, the firm made an investment of $30 million in the multichain wallet provider BitKeep. As a result of this investment, the corporation became the dominant investor in the company.
As a direct consequence of Bitget's investment, it is projected that Fetch.ai would see increased levels of growth. The company is in the process of increasing the size of its infrastructure so that it can support autonomous services. As a result of Bitget's financial support, Fetch.ai is in a position to both expand the scope of its commercial relationships and continue the development of innovative products. These are the kinds of problems that can be solved with the help of artificial intelligence.
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