Leading Web3 wallet and DeFi platform Bitget Wallet has announced a joint investment with crypto investment firm Foresight X in Tomarket, a decentralized trading platform for emerging asset classes.
Developed by industry experts from prestigious firms with the likes of Binance and Microsoft, Tomarket is designed to address markets and user needs beyond those already provided for by conventional decentralized exchanges (DEXs). The platform facilitates the trading of Real World Assets (RWA), crypto asset yields swap, crypto points, pre-TGE assets, and other new asset types, thereby enhancing liquidity and value discovery in these sectors.
With an end goal of tapping into the immense trillion-dollar market occupied by these new narratives, Tomarket will first be available to users as a Telegram mini-app when it officially launches in July, providing users with a convenient and user-friendly entry point into this innovative platform.
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The year 2024 marks a significant phase of growth for the crypto industry, catalyzed by the Bitcoin halving together with the Bitcoin ETF approval by the SEC. This period of growth also saw the emergence and burgeoning growth of various new asset classes and narratives, such as crypto project points trading, pre-TGE tokens, RWA assets, and interest rates on digital assets. These new assets possess substantial trading potential and demand, yet they face challenges such as poor liquidity and high transaction trust costs. Moreover, the current market lacks a comprehensive, one-stop platform to meet the trading needs of these new assets. Tomarket was specifically created to address these challenges and unlock the full potential of these assets.
Expressing enthusiasm for this collaboration, Alvin Kan, COO of Bitget Wallet, stated that “Trading has always been at the heart of the crypto industry. Beyond traditional token assets, new asset types such as RWAs and points deserve significant attention.”
He continues that Bitget Wallet will remain steadfast in its commitment to addressing the evolving needs of its users: “Through our investment and product collaboration with Tomarket, we aim to explore and develop markets beyond traditional DEXs, driving the growth of new crypto asset trading, thus cementing our dedication to catering to new user needs as they present themselves.”
In a strategic move earlier this year, Bitget Wallet announced the introduction of the Bitget Onchain Layer, an intermediary layer designed to help users navigate the complex Web3 ecosystem. This layer serves as an on-chain extension and a decentralized future of the entire Bitget ecosystem. As the first ecosystem partner of the Bitget Onchain Layer, Tomarket will be deeply integrated into Bitget Wallet. This development will also observe the additional expansion of use cases for BWB, the wallet’s own native token, as this strategic partnership with Tomarket marks the beginning of a series of sustained ecosystem growth and user engagement for all Bitget Wallet users.
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