Gate.io

Gate.io is a global cryptocurrency exchange and blockchain platform established in 2013. It has ranked within the top 10 worldwide in terms of trading volume, as reported by Reuters.[1][2][3][4]

Gate.io
TypePrivate
IndustryCryptocurrency
FoundedApril 2013 (April 2013)
FoundersLin Han
Area served
Global, except for the United States, Canada and other Restricted Locations in the User Agreement
ProductsCryptocurrency exchange, cryptocurrencies
SubsidiariesGate.hk (Hong Kong)
Websitehttps://www.gate.io

History

2013

Gate.io was founded by Dr. Lin Han in April 2013. Due to the cryptocurrency restriction imposed by the regulators of China starting from September 2017, Gate.io moved its operation out of the country, progressively serving the global market.[5][6][7]

2019-2021

The livestream platform, Gate.io Live, was also launched on 14 October 2019. It allowed Gate.io to have real-time interaction with its users. Users can comment, send queries and participate in the live activities hosted on Gate.io Live. Its split-screen function also allows users to trade while they are watching the sessions.[8]

In 2019, it launched the Gate SAFU fund, which acts as a safety net and insurance fund for user assets.[9]

Gate.io released its Proof of Reserves in 2020, a technical proof around providing users with a method to check their collateral, including their total assets on the platform. It is a combination of a mathematical algorithm and a financial audit built on a hack-proof algorithm.[10][11]

Gate.io passed the Trusted Volume Test by Coin Metrics in July 2020, whereby aspects of the test range include volume correlation, web traffic analytics and qualitative features.[12]

Subsequently in August 2020, Gate.io also received the top position based on cybersecurity score from CER.live, a cybersecurity ranking and certification platform who verifies the balances and liabilities of crypto exchanges worldwide.[13]

The venture capital arm of Gate.io, Gate Ventures, was also established in September 2021. Gate Ventures focuses on early stage investments of decentralized infrastructure, ecosystem and applications, as well as providing financing, operational resources and industry expertise. In its initial stages, Gate Ventures launched a fund worth $100 million to support projects in the industry.[14]

Gate Ventures later launched another fund worth $200 million to support more alternative layer 1 and layer 2 protocols in November 2022.[15]

In January 2021, Gate.io launched its startup accelerator, Gate Labs, with the goal of supporting entrepreneurs with industry support, best practices and resources.[16]

2022-2023

Gate.io had been the second-largest crypto exchange by trading volume in April 2022.[17] In the same year, Gate.io launched Gate Learn, a platform for learning in the field of cryptocurrency investments.[18][19]

In October 2022, Gate.io and the City of Busan starterted setting up and managing the Busan Digital Asset Exchange.[20]

Gate.io also pledged $100 million via the Gate SAFU Fund that aims to support the crypto industry in December 2022.[21][22]

Gate Group has partnered with Visa to launch a crypto card available to selected countries in the European Economic Area in March 2023.[23]

In 2023, Gate.io partnered with Coinfirm, a platform for real-time anti-money laundering (AML) and combating the financing of terrorism (CFT) risk management for digital assets and cryptocurrencies.[24][25]

Gate.io is a globally recognized cryptocurrency exchange and virtual asset service provider, which is one of the exchanges under Gate Group. The Gate Group restricts its services in certain geographic locations, and has successfully obtained the following licenses and approvals to offer a wide range of services tailored to different markets.

Europe

In Europe, Gate Group has secured licenses and registrations in various countries. This includes Class 4 Virtual Financial Assets (VFA) Licence to carry out Virtual Asset Exchange and Custodian Services in Malta[26][27], registrations as a Virtual Assets Service Provider (VASP) in Lithuania[28] and Italy, and the registration of charity in Gibraltar.[29]

Gate.io obtained a crypto services license in Lithuania in September 2022.[30]

Middle East

Expanding its presence to the Middle East, Gate Group has obtained a license from the Dubai Multi Commodities Centre (DMCC) to carry out proprietary trading in crypto-commodities in United Arab Emirates (UAE).[31] Additionally, in November 2022, Gate Group launched Gate Turkey to serve the Turkish market and meeting the needs of crypto traders in the country.[32]

Asia

In Hong Kong, Hippo Financial Services Limited of Gate Group acquired the Trust & Company Service Provider (TCSP) License in 2022.[33][34][35][36] With that, Gate.HK was officially launched in May 2023.[37][38]

Products

Gate.io is a centralized cryptocurrency exchange with various digital asset products and services, including spot and margin trading, perpetual futures, options and NFTs. As of May 2023, Gate.io’s total exchange assets were $1.88 billion according to Bloomberg.[39][40][41]

Trading

Gate.io has spot trading, margin trading, push payments and convert function between different cryptocurrencies, as well as perpetual and delivery futures, options and CBBCs. Users who are new to the cryptocurrency market can also use the copy trading function to automatically replicate the trading strategies of seasoned traders.[42]

Products & Services

Apart from financial services, Gate.io offers GateChain, a decentralized ecosystem for storing, issuing, and trading digital assets, as well as Gate Ventures, Gate Grants, Gate Labs, Gate NFT, Wallet S2, MiniApp platform, and GameFi Center. In August 2019, Gate.io launched its trading token GateToken (GT) on its GateChain mainnet.[41][43] In connection with this, the Whitepaper of its blockchain protocol, HipoSwap, was also released on 14 September 2020.[44] A little later in 2021, GateChain mainnet announced that it officially supports Ethereum Virtual Machine (EVM).[45]

GateToken (GT)

GateToken (GT), the native token to its public chain GateChain was launched in August 2019. It can be used to pay the gas fees for transactions that take place on the network.[46][47][48]

Web3 Ecosystem

Under the Web3 ecosystem, Gate.io has a spot market DEX, a multi-chain router for token swapping, staking and earning aggregator, NFT marketplace and Gate Wallet. Gate Wallet is a multi-chain aggregation and non-custodial decentralized wallet for users to manage assets on different chains.[49][50]

In November 2022, Gate.io launched its crypto-based payment solution, Gate Pay. Gate Pay allows users to make purchases using cryptocurrencies securely, further driving crypto and Web 3.0 adoption to the public.[51][52]

References
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  2. Newbery, Emma (10 March 2022). "Gate.io Review: Pros, Cons, and More | The Motley Fool". www.fool.com. Retrieved 15 June 2023.
  3. "Best Crypto Apps & Exchanges Of June 2023 – Forbes Advisor". www.forbes.com. Retrieved 15 June 2023.
  4. "Crypto.com Recovers $400 Million After Misplaced Ether Transfer". Bloomberg.com. 13 November 2022. Retrieved 15 June 2023.
  5. Joe, Kiwi (20 September 2022). Cryptocurrency Remote Viewed Book Seven: Your Guide to Identifying Tomorrow's Top Cryptocurrencies Today. Gerard O’Neill Books.
  6. "Digital asset exchange Gate.io taps Coinfirm for AML/CFT platform". 13 February 2023.
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  49. "Gate Wallet". chrome.google.com. Retrieved 13 October 2023.
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