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“We’re not just expanding—we’re investing in India’s Web3 future,” Vugar Usi Zade, Chief Operating Officer, Bitget
As crypto exchanges scale globally amid regulatory uncertainty, Bitget is charting a growth path rooted in resilience, innovation, and transparency. At the operational helm is Vugar Usi Zade, Bitget’s dynamic Chief Operating Officer and a seasoned Web3 strategist with deep cross-industry experience spanning Facebook, Coca-Cola, and Bain & Company.
In this exclusive conversation, Vugar shares insights into Bitget’s AI-integrated product roadmap, the platform’s cyber resilience strategy, and how stablecoin regulation in the U.S. could shape the future of dollar dominance in India and Southeast Asia. He also discusses Bitget’s India expansion journey, their $694M protection fund, and why proof-of-reserves and ethical decentralization are the new cornerstones of user trust in the global crypto ecosystem.
Recently you mentioned that U.S. stablecoin regulation is a chance to cement dollar dominance. How critical is this shift for shaping global adoption—especially in fast-growing markets like India and Southeast Asia?
If we talk about the stablecoin market cap, it currently stands at roughly about $240 billion. We are talking about a substantial market size which exists without proper regulation. The primary use of stablecoins is to transfer value to any part of the globe over a secure blockchain network. Total transfer volume, meanwhile, hit $27.6 trillion last year, surpassing the combined volume of Visa and Mastercard transactions in 2024.
If US stablecoin regulation is implemented, we can see a significant surge in adoption in India and Southeast Asia due to the large number of annual trade value between these countries and the United States. In fiscal year 2024-25, the total bilateral trade value between India and the US was $131.84 billion, just imagine this trade value settles using stablecoins.
As AI continues to intersect with blockchain technologies, how is Bitget leveraging AI to enhance user experience and operational efficiency within the Web3 ecosystem?
At Bitget, we believe that AI trained on AI generated data can lead to a big mess. We are actively working towards integrating Blockchain with AI to make AI a more secure product.
AI trained on blockchain based data will avoid duplication and prevent tampering of critical facts. At Bitget, AI-driven trading tools will become more sophisticated, providing even more precision and efficiency in the market. Future developments may include deeper learning capabilities, which will allow AI to make decisions based on both quantitative and qualitative data.
With Trump now backing crypto and launching $TRUMP, how could this shift reshape global adoption and regulation, especially in emerging markets?
I think the value of memecoins is mainly driven by sudden news factors. Traders have flirted with such memecoins in the past but not many are aware of the pitfalls.
A person of President Trump’s standing launching his own coin should be seen as an engagement exercise with his audience rather than a financial product.
The larger trend of memecoins around the world is growing towards a more organised space. Putting memecoins under regulatory authority will work as an important user protection measure.
With recent cyberattacks on major exchanges like WazirX and Coinbase, how is Bitget strengthening its cyber resilience—and what should everyday crypto investors do to stay protected?
The hacks of crypto exchanges around the globe are very unfortunate. When the world transitioned from offline to digital banking, we witnessed a series of such hacks affecting the bank customers as well. So the issue is not the industry but the unsocial elements trying to make a living by hacking accounts of customers.
I believe the industry needs a collaborative effort to create a safety net around user funds. Bitget has created a groundbreaking Protection Fund that currently stands at $694M. This move comes as a testament to Bitget's unwavering commitment to providing its traders with a safe and trustworthy trading environment.
Bitget's India expansion- Could you elaborate on the key milestones achieved so far and the challenges encountered in navigating India's regulatory landscape?
India is a very important market for us and we are aggressively working towards strengthening our presence here. Our FIU license talks are in a very advanced stage and we will announce it when all the formalities are completed.
On the expansion front, we are already funding web3 startups in India through our $10 million Blockchain4Youth fund. Our community initiatives revolve around engaging with colleges and universities in India to drive awareness around web3 related products and services. We are committed towards providing employment to talented individuals in the region and strengthen our workforce with young talent in the field.
Many crypto platforms champion decentralization and transparency, yet operate with limited public accountability or unclear governance structures. How is Bitget walking the talk—especially when building trust with regulators and retail users in emerging markets?
Bitget is one of the first global crypto exchanges that started publishing regular proof of reserve reports globally. Bitget promises to hold 100% of users' assets in reserves, as well as publish its Merkle Tree proof of reserves, and platform reserve ratio on a monthly basis.
Bitget users can verify their assets anytime with just a few simple steps. Bitget’s latest reserve ratio stands at 192% which shows our commitment to create an environment of trust and transparency in the crypto ecosystem.
