Bitget pledges $10M for Fetch.ai ecosystem amid ChatGPT boom

The move comes amid a surge in popularity for artificial intelligence tools such as ChatGPT.

Bitget has pledged $10 million for the development of the Fetch.ai ecosystem, the cryptocurrency derivatives exchange announced on April 27.

Fetch.ai provides the infrastructure to build autonomous services. Its core product is the artificial intelligence (AI) agent network, a decentralized network of autonomous agents that can perform various tasks, such as data analysis and complex financial modeling. The project also offers a smart wallet featuring automation and integration with OpenAI’s ChatGPT API. The artificial intelligence chatbot surpassed 100 million users in January 2023, just months after launch.

Commenting on the pledge, Bitget cited the recent AI hype generated by ChatGBPT, which raises “more possibilities of this technology in improving human productivity and creativity.” Regarding the nature of the partnership with Fetch.ai, Bitget said it would be “providing consultations on marketing” and other services to help the AI infrastructure provider expand its business partnerships.

According to CoinGecko, Bitget is currently the world’s eighth-largest crypto spot exchange, with a daily transaction volume of $990 million. The exchange, based in Seychelles, serves over 8 million users in more than 100 countries and regions.

On April 20, Bitget acquired a regulatory license to provide services in Lithuania. Last month, the company invested $30 million into multichain wallet provider BitKeep, becoming its controlling shareholder.

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