Bitget Eyes Yuan C2C Trading Revival Amid China Market Volatility

Bitget, a Seychelles-based cryptocurrency exchange, is reportedly planning to resume its peer-to-peer (C2C) trading service for the Chinese yuan after a three-year pause. According to crypto analyst AB Kuai.Dong on X, Bitget has been recruiting industry personnel with high salaries and views the C2C yuan service as one of its most important initiatives this year, alongside its U.S. stock trading service.

The move would mark a significant step for Bitget, which, like many global exchanges, has largely avoided direct services for Chinese mainland users following regulatory crackdowns on cryptocurrency trading in China. The People's Bank of China has banned crypto exchanges and related activities since 2021, but some platforms continue to offer limited services via offshore entities.

Kuai.Dong's post suggests that Bitget aims to create a seamless flow from yuan deposits to stablecoin purchases and then to U.S. stock investments, bridging the gap between China's capital controls and global markets.