Crypto exchange reports 20 million new users and expansion in payments and licensing, but key metrics invite further scrutiny.
Cryptocurrency exchange Bitget has published its Q2 2025 Transparency Report, detailing a quarter marked by aggressive expansion, new regulatory milestones, and a series of product launches across trading and payments.
The platform reports a 20% quarter-on-quarter increase in its global user base – growing from 100 million to 120 million – alongside significant developments in wallet utility, market reach, and token strategy.
The report follows a broader recovery in crypto markets, which saw Bitcoin hit a new all-time high in Q2 and renewed institutional activity following the passage of the GENIUS Act in the US. Bitget attributes much of its growth to improved market conditions, ecosystem upgrades, and strategic partnerships.
Among the headline metrics, Bitget says its non-custodial wallet surpassed 80 million users following a major rebrand and feature rollout. Key additions included PayFi capabilities such as QR code payments, a zero-fee Mastercard product for the UK and EU, and new tools for token discovery and market analytics. The report also highlights wallet user growth of 959% in Africa, 367% in Europe, and 350% in the Middle East, though no regional breakdown of active users was provided.
The exchange also claims to have overtaken rivals to become the second-largest spot crypto exchange globally, according to Coingecko. Bitget’s market share reportedly increased across both spot and derivatives trading in Q2, supported by new institutional features such as Bitget PRO and liquidity incentive schemes. However, the company did not disclose comparative figures or trading breakdowns by geography or asset class.
On the regulatory front, Bitget secured a Digital Asset Service Provider (DASP) licence in El Salvador and a virtual asset licence from the Tbilisi Free Zone in Georgia. These authorisations expand Bitget’s compliance footprint across Latin America and Eastern Europe, adding to its portfolio of registrations in Europe and the Asia-Pacific region. The company said these moves support its ambition to serve global markets under “fit-for-purpose” frameworks.
One of the more distinctive elements of the report was Bitget’s partnership with UNICEF. Through the Blockchain4Her initiative, Bitget is supporting a three-year digital education programme across eight countries aimed at delivering blockchain literacy to over 300,000 participants, particularly adolescent girls and educators.
The initiative includes online learning, in-person workshops, and game-based modules hosted via Bitget Academy.
The report also points to momentum behind Bitget’s native token, BGB, which the platform says rose to $8.50 in Q2 following integration with DeFi tools and the continuation of a deflationary burn programme. More than 30 million tokens were burned in the quarter, and Bitget is positioning BGB as a utility asset for both exchange and wallet activity. That said, the token’s pricing dynamics remain largely internal to the Bitget ecosystem, with limited external market exposure.
Security and transparency were also highlighted, with Bitget maintaining a Proof of Reserves (PoR) ratio above 190% throughout Q2 and reporting a user protection fund balance of $716 million at the end of June.
While the report outlines substantial progress across key growth areas—user numbers, regional licensing, payment tools, and education initiatives—some of the platform’s more ambitious claims, such as user acquisition and global trading rank, may warrant further context or independent verification.
As the crypto sector enters a more regulated phase globally, Bitget’s quarterly disclosures suggest it is working to position itself not only as a high-growth exchange, but also as a multi-service platform focused on infrastructure, payments, and long-term user engagement.
