Bitget plans US expansion with or without Clarity Act
Bitget is seeking US regulatory approvals to launch an independent entity, signaling growing offshore exchange interest in the world's largest market despite legislative uncertainty.
Bitget is preparing to enter the United States by securing money-transmitter, derivatives, and broker-dealer licenses. CEO Gracy Chen confirmed the Seychelles-registered exchange will establish an independent US-based entity rather than operating through an offshore affiliate.
"With or without the Clarity Act, Bitget has already made a decision to enter the U.S. market," Chen said. The exchange initially shelved a planned 2022 expansion following the collapse of FTX and a subsequent hostile regulatory climate under the Biden administration.
The planned entry underscores a shift among major offshore platforms seeking compliance in the world's largest financial market despite ongoing legislative uncertainty. Chen noted she has grown pessimistic about the Clarity Act's chances as midterm elections approach. This skepticism persists even though President Trump recently agreed to ethics language addressing government officials' digital asset holdings, a development that could trigger a Senate vote before lawmakers leave Washington in early August.
While regulatory clarity would streamline the licensing process, Bitget's commercial strategy relies heavily on the convergence of digital assets and traditional finance. The exchange is actively discussing tokenized traditional assets with NYSE and Nasdaq, viewing them as collaborators rather than competitors.
"We need to do this together with NYSE, Nasdaq, together with a lot of RWA issuance providers, as well as broker-dealer license providers in the U.S.," Chen said. This pivot toward real-world assets reflects shifting user demand. Traditional assets accounted for 20% to 30% of Bitget's spot trading volume last quarter. Additionally, 52% of the exchange's users now hold both crypto and stocks. Its tokenized-stock products have accumulated more than $100 million in assets since launching last month.
"Everything needs to be ready before we ship anything," Chen said, indicating Bitget will not rush its US launch until full regulatory approvals are in hand.
