Bitget Pledges $10M for Fetch.ai Ecosystem Development

The cryptocurrency derivatives exchange announced on April 27 that Bitget has pledged $10 million to advance the Fetch.ai ecosystem.

Fetch.ai offers the infrastructure required to develop autonomous services. Its primary offering is the artificial intelligence (AI) agent network, a decentralized network of independent agents capable of performing various tasks, such as data analysis and complex financial modeling.

The initiative also provides a smart wallet with automation and integration with the ChatGPT API from OpenAI.

The chatbot with artificial intelligence surpassed 100 million users in January 2023, just a few months after its debut.

Bitget, commenting on the vow, cited the recent AI hype generated by ChatGBPT, which raises “more possibilities of this technology in improving human productivity and creativity.”

Concerning the nature of the partnership with Fetch.ai, Bitget stated that it would “provide marketing consultations” and other services to assist the AI infrastructure provider expand its business partnerships.

Bitget is presently the eighth-largest crypto spot exchange in the world, according to CoinGecko, with a daily transaction volume of $950 million.

The exchange, headquartered in Seychelles, provides services to over 8 million consumers in over 100 countries and regions.

Bitget obtained regulatory authorization to provide services in Lithuania on April 20. The firm invested $30 million in multichain wallet provider BitKeep last month, becoming its controlling shareholder.