
BiKi.com
BiKi.com is a global digital currency trading service provide.
Date | Investors | Amount | Round |
---|---|---|---|
N/A | €0.0 | round | |
N/A | Series A | ||
Total Funding | 000k |
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BiKi.com was a global cryptocurrency exchange headquartered in Singapore that launched in June 2018. The company was founded by Winter Li, a former investment manager and serial entrepreneur. The firm gained early traction by launching during the crypto bear market of 2018 and focusing on growth strategies that targeted new users in untapped markets. Ethan Ng, formerly the marketing lead at another global exchange, was appointed Southeast Asia CEO in May 2019 to spearhead expansion in the region, starting with Vietnam. By its first anniversary, BiKi reported it had accumulated 1.5 million registered users and 130,000 daily active users.
The exchange's business model centered on providing a trading platform for a wide array of digital assets. BiKi offered spot trading with over 100 cryptocurrencies and more than 220 trading pairs, as well as derivatives, crypto ETFs, and leveraged trading. Revenue was primarily generated from trading commissions. A key component of its strategy was the native BiKi platform token, which could be used for reduced trading fees. The company implemented a deflationary model for its token, using 100% of its transaction fees to repurchase and burn tokens quarterly, aiming to reduce the total supply and increase the token's value.
BiKi's platform was designed to be accessible for both new and experienced traders, offering a proprietary trading interface with detailed order books and multiple order types. Beyond trading, the exchange expanded its ecosystem to include a Proof-of-Stake (PoS) mining pool and planned to introduce an incubator and lending services. The company's strategy also involved forming deep partnerships with listed projects to assist with their growth and expansion. However, due to the crackdown on cryptocurrency by Chinese central regulators, BiKi announced it would cease operations. The platform officially shut down and delisted all trading pairs on October 31, 2021, with withdrawals being suspended on November 30, 2021.
Keywords: cryptocurrency exchange, digital asset trading, spot trading, crypto derivatives, tokenomics, platform token, crypto winter, community growth, exchange shutdown, regulatory crackdown