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Gate.io

From EverybodyWiki Bios & Wiki

Gate.io
Private
ISIN🆔
IndustryCryptocurrency
Founded 📆April 2013; 11 years ago (April 2013)
Founders 👔Lin Han
Area served 🗺️
Global, except for the United States, Canada and other Restricted Locations in the User Agreement
Products 📟 Cryptocurrency exchange, cryptocurrencies
Members
Number of employees
🌐 Website[1]
📇 Address
📞 telephone

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]

History[edit]

2013[edit]

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

2019-2021[edit]

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]

Gate.io enlisted Hacken in 2020 to meet the requirements for obtaining the Crypto Exchange Ranks (CER) certificate by strengthening its security mechanisms and company practices, including a bug bounty program and penetration test audits.[13][14]

Subsequently, in August 2020, Gate.io also received the top position based on cybersecurity score from CER.live, a cybersecurity ranking and certification platform that verifies the balances and liabilities of crypto exchanges worldwide.[15]

The venture capital arm of Gate.io, Gate Ventures, was also established in September 2021. Gate Ventures focuses on early-stage investments in decentralized infrastructure, ecosystems, 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.[16]

Gate Ventures later launched another fund worth $200 million to support more alternative layer 1 and layer 2 protocols in November 2022.[17]

In January 2021, Gate.io launched its startup accelerator, Gate Labs, to support entrepreneurs with industry support, best practices, and resources.[18]

2022-2023[edit]

In 2022, Gate.io launched Gate Learn, a platform for learning in the field of cryptocurrency investments.[19][20]

In October 2022, Gate.io and the City of Busan started setting up and managing the Busan Digital Asset Exchange.[21]

Gate.io also pledged $100 million via the Gate SAFU Fund which aims to support the crypto industry in December 2022.[22][23]

Gate Group has partnered with Visa to launch a crypto card available to selected countries in the European Economic Area in March 2023.[24]

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.[25][26]

Gate.io once again engaged Hacken in August 2023, this time with the purpose of auditing smart contracts within Gate Web3 and its broader decentralized ecosystem. From this enhanced partnership enhancement, the system and asset security of Gate.io has been further enhance by the third-party smart contract audits and produced reports to reinforce vulnerability detection and mitigation conducted by Hacken.[13][27]

Legal Status[edit]

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[edit]

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,[28][29] registrations as a Virtual Assets Service Provider (VASP) in Lithuania[30] and Italy, and the registration of charity in Gibraltar.[31]

Gate.io obtained a crypto services license in Lithuania in September 2022.[32]

Middle East[edit]

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 the United Arab Emirates (UAE).[33] Additionally, in November 2022, Gate Group launched Gate Turkey to serve the Turkish market and meeting the needs of crypto traders in the country.[34]

Asia[edit]

In Hong Kong, Hippo Financial Services Limited of Gate Group acquired the Trust & Company Service Provider (TCSP) License in 2022.[35][29][36] With that, Gate.HK was officially launched in May 2023.[37][38] On 28 December 2023, The Financial Intelligence Unit, India issued show cause notices to nine offshore cryptocurrency and virtual digital assets platforms for non-compliance with anti-money laundering law. The FIU has also written to the Ministry of Electronics and Information Technology (MeiTY) to block URLs of these 9 entities that are operating illegally without complying with the provisions of the PML Act in India.[39]

Products[edit]

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.[40][41][42]

Trading[edit]

Gate.io has spot trading, margin trading, push payments and convert functions 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.[43]

Products & Services[edit]

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.[42][44] In connection with this, the Whitepaper of its blockchain protocol, HipoSwap, was also released on 14 September 2020.[45] A little later in 2021, GateChain mainnet announced that it officially supports Ethereum Virtual Machine (EVM).[46]

GateToken (GT)[edit]

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.[47][48][49]

Web3 Ecosystem[edit]

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.[50][51]

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.[52][53]

See also[edit]

References[edit]

  1. ↑ "Top crypto exchanges by volume". Reuters. 2022-11-09. Retrieved 2023-10-19.
  2. ↑ Newbery, Emma (2022-03-10). "Gate.io Review: Pros, Cons, and More | The Motley Fool". www.fool.com. Retrieved 2023-06-15.
  3. ↑ "Best Crypto Apps & Exchanges Of June 2023 – Forbes Advisor". www.forbes.com. Retrieved 2023-06-15.
  4. ↑ "Crypto.com Recovers $400 Million After Misplaced Ether Transfer". Bloomberg.com. 2022-11-13. Retrieved 2023-06-15.
  5. ↑ Joe, Kiwi (2022-09-20). Cryptocurrency Remote Viewed Book Seven: Your Guide to Identifying Tomorrow's Top Cryptocurrencies Today. Gerard O’Neill Books. Search this book on
  6. ↑ "Digital asset exchange Gate.io taps Coinfirm for AML/CFT platform". 13 February 2023.
  7. ↑ Steves, Rick (7 February 2023). "GATE.IO TAPS COINFIRM FOR AML/CFT COMPLIANCE AMID LICENSES IN THE US, EUROPE, HONG KONG".
  8. ↑ Walker, Mark (2019-10-27). "Gate.io Launches In-App Live Streaming Service To Support Real-Time Interaction With Users". The Fintech Times. Retrieved 2023-10-13.
  9. ↑ "Gate.io pledges USD 100 mln to support the crypto ecosystem". thepaypers.com. Retrieved 2023-08-10.
  10. ↑ Finyear. "Gate.io Releases Proof Of 100% Collateral Transparency Of Users' Assets". Corporate Finance, DeFi, Blockchain News (in français). Retrieved 2023-08-10.
  11. ↑ Andreou, Giannis (2022-11-14). THE BIBLE OF CRYPTOCURRENCY, WEB 3.0, NFTs & DeFi: The Ultimate Path For Blockchain, Cryptocurrencies, WEB 3.0, NFTs and DeFi, For Comprehensive Understanding. Giannis Andreou. Search this book on
  12. ↑ "Gate.io全项通过Coin Metrics交易量可信度测试". 世链财经 (in 中文). Retrieved 2023-10-13.
  13. ↑ 13.0 13.1 "Gate.io and Hacken Partner to Enhance Security and Smart Contract Auditing". Yahoo Finance. 2023-09-11. Retrieved 2023-11-01.
  14. ↑ "Gate.io, Hacken team up to secure crypto funds". thepaypers.com. Retrieved 2023-11-01.
  15. ↑ FATHI, ABDELAZIZ (25 May 2022). "COINGECKO EXPANDS COLLABORATION WITH CER.LIVE SECURITY RATING". FinanceFeeds.
  16. ↑ "Gate.Io 承诺投入 1 亿美元重振加密货币，恢复投资者信心_基金_io_流动性". news.sohu.com. Retrieved 2023-10-13.[permanent dead link]
  17. ↑ "Gate.io 啓動早期加密風投基金 Gate Ventures | Anue鉅亨 - 快訊". Anue鉅亨 (in 中文). 2021-09-13. Retrieved 2023-10-13.
  18. ↑ Finyear. "Gate.io Launches a Startup Incubator to Support Early Stage Blockchain Projects". Corporate Finance, DeFi, Blockchain News (in français). Retrieved 2023-10-13.
  19. ↑ "Gate Learn: Have you studied today? Grab up to $3000 Daily Check-in Bonus at Gate Learn Educational Campaign - gate.io". CoinCarp. Retrieved 2023-08-10.
  20. ↑ Desk, Fintech News (2023-01-31). "Gate.io Signs MoU with Korea University Blockchain Research Institute to Advance Blockchain". GlobalFinTechSeries. Retrieved 2023-08-10.
  21. ↑ "Blockchain: Gate.io joins Binance, FTX crypto firms in helping Busan build its blockchain framework". EconoTimes. 2022-10-28. Retrieved 2023-10-13.
  22. ↑ "Gate.io pledges USD 100 mln to support the crypto ecosystem". thepaypers.com. Retrieved 2023-06-15.
  23. ↑ "Gate.io to apply for a licence in Hong Kong". thepaypers.com. Retrieved 2023-06-15.
  24. ↑ "GATE.IO LAUNCHES VISA-BACKED CRYPTO DEBIT CARD". 9 March 2023.
  25. ↑ "Digital asset exchange Gate.io taps Coinfirm for AML/CFT platform".
  26. ↑ "GATE.IO TAPS COINFIRM FOR AML/CFT COMPLIANCE AMID LICENSES IN THE US, EUROPE, HONG KONG". 7 February 2023.
  27. ↑ "Gate.io Exchange: Program Info | HackenProof". hackenproof.com. Retrieved 2023-11-01.
  28. ↑ "Gate.io Group announced receiving the VFA Class 4 License in Malta". IBS Intelligence. Retrieved 2023-10-13.
  29. ↑ 29.0 29.1 "Gate.io Crypto Exchange Confirms its SFC Application". Financial and Business News | Finance Magnates. 2023-04-11. Retrieved 2023-10-13.
  30. ↑ FATHI, ABDELAZIZ (19 December 2022). "GATE.IO GETS NOD TO LAUNCH CRYPTO SERVICE IN THE US". Finance Feeds.
  31. ↑ "Clarifications on Gate.io's KYC Measures - 芝麻开门". CoinCarp (in 中文). Retrieved 2023-10-13.
  32. ↑ "GATE.IO OBTAINS CRYPTO SERVICES LICENSE IN LITHUANIA". 6 September 2022.
  33. ↑ Rick, Steves (25 August 2022). "GATE.IO GROUP LAUNCHES DUBAI-LICENSED OTC CRYPTO BLOCK TRADING".
  34. ↑ Oladipupo, Solomon (14 November 2022). "Gate.io Targets New Crypto Exchange GateTR at Turkey's Crypto Market".
  35. ↑ by (2022-08-15). "Gate.io Group獲得香港TCSP牌照，將提供安全可靠的資產託管服務". 香港特許經營. Retrieved 2023-10-13.
  36. ↑ 网易 (2023-02-24). "Gate.io 计划在香港拨款 640 万美元用于 Web 3 空间". www.163.com. Retrieved 2023-10-13.
  37. ↑ Steves, Rick (7 February 2023). "GATE.IO TAPS COINFIRM FOR AML/CFT COMPLIANCE AMID LICENSES IN THE US, EUROPE, HONG KONG". Finance Feeds.
  38. ↑ "Gate.HK Officially Launches and Begins Operations in Hong Kong". ffnews.com. Retrieved 2023-10-13.
  39. ↑ "Financial Intelligence Unit asks MeiTY to block URLs of 9 offshore crypto platforms like Binance and Kucoin — Check full list". Zee Business. 2023-12-28. Retrieved 2023-12-29.
  40. ↑ "The Paypers covers the latest global news and analyses on payments, ecommerce, fintech, and the digital economy". thepaypers.com. Retrieved 2023-06-30.
  41. ↑ "News Nuggets | 25 May: Gate.io in Hong Kong; CFI's New Office". Financial and Business News | Finance Magnates. 2023-05-25. Retrieved 2023-06-30.
  42. ↑ 42.0 42.1 "Crypto Exchange Gate.io Rejects Rumors That Sank Related Token". Bloomberg.com. 2023-05-31. Retrieved 2023-06-15.
  43. ↑ Team, B. P. M. (2021-09-09). "Best Bitcoin Copy Trading Platform 2021". Business Partner Magazine. Retrieved 2023-10-13.
  44. ↑ sina_mobile (2019-04-08). "迟到一年 Gate发币". k.sina.cn. Retrieved 2023-10-13.
  45. ↑ 网易 (2021-04-20). "Gate.io芝麻开门8周年：守正出新，开启全能交易时代". www.163.com. Retrieved 2023-10-13.
  46. ↑ 宋 家雨, 发布于. "Gate.io芝麻开门EVM智能链上线 ，能否用生态优势杀出重围？". Doit.
  47. ↑ "GateToken USD (GT-USD) Cryptocurrency Profile & Facts - Yahoo Finance". finance.yahoo.com. Retrieved 2023-10-13.
  48. ↑ "What is Gate Token (GT)? - Skrumble". 2023-07-22. Retrieved 2023-10-13.
  49. ↑ Andreou, Giannis (2022-11-14). THE BIBLE OF CRYPTOCURRENCY, WEB 3.0, NFTs & DeFi: The Ultimate Path For Blockchain, Cryptocurrencies, WEB 3.0, NFTs and DeFi, For Comprehensive Understanding. Giannis Andreou. Search this book on
  50. ↑ "Gate Wallet". chrome.google.com. Retrieved 2023-10-13.
  51. ↑ "Gate Web3 Wallet Adds Support for Base, Sui, Sei, BRC-20, and More". Yahoo Finance. 2023-09-05. Retrieved 2023-10-13.
  52. ↑ Writer, Verdict Staff (2022-11-07). "Crypto exchange Gate.io unveils new payment product". Electronic Payments International. Retrieved 2023-10-13.
  53. ↑ "Gate.io Launches its Crypto Payment Product, Gate Pay". ffnews.com. Retrieved 2023-10-13.


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