Bitget Crypto Exchange Injects IDR 147 Billion In Funds To Match.ai

Match.ai get a large injection of funds. (Photo; Doc. Coinpedia)

JAKARTA - Bitget derivative and copy trading trading platforms have completely switched to artificial intelligence (AI). On April 27, Bitget announced it had invested 10 million US dollars (Rp147 billion) in the development of the Match.ai ecosystem, an artificial intelligence-based (AI) crypto project.

Bitget plans to provide a number of services to Match.ai, including marketing consultations and strategic directions. Match.ai provides service automation infrastructure powered by the AI agency network. This autonomous agent performs various tasks, including data analysis and complex financial modeling.

Bitget manager Gracy Chen said Match.ai already has a number of technology AI solutions that work and are applicative, so Bitget decides to provide support to this promising startup and will continue to do so when identifying other people who need help from their special funds.

Founder and CEO of Match.ai, Humayun Sheikh, said the opportunity to implement blockchain on AI was unlimited. Match.ai uses a decentralized machine learning algorithm to provide its users with various innovative software solutions.

On April 10, Bitget announced a $100 million venture fund with a focus on investing in Web3 and Asian crypto projects. The goal is to "grow a positive stance on the digital currency economy and support the development of the web3 environment," the company said at the time.

The Seychelles-based Bitget was founded in 2018 and currently ranks 8th for a confidence score according to CoinGecko. The exchange handles a daily trading volume of US$735 million (Rp10.8 trillion), offers 548 crypto trading pairs, and claims to have 8 million users.

The stock exchange's original token, BGB, jumped more than 4 percent after this news came out. There is no significant movement for FET Fetch.ai tokens trading for US$0.347 (around Rp5,100) per token.

At the same time, Wall Street's major bank, JPMorgan, is also interested in AI solutions. On April 27, it was reported that the bank had developed an AI tool based on a ChatGPT that could analyze Federal Reserve policy statements. The tool generates a "Hawk-Dove Score," which allows bank analysts to detect potential trade signals.

The system can predict the strict monetary policy of the central bank and is currently more inclined to the hawkish side. The Fed is expected to raise interest rates by 0.25 basis points next week for fighting high inflation.

In fast-growing industries such as crypto and blockchain, adopting AI technology is essential to the company's success. As the increasingly crowded market, AI-enhanced financial algorithms and modeling can help market players make smarter and more accurate decisions.