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.
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.
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.
In 2019, it launched the Gate SAFU fund, which acts as a safety net and insurance fund for user assets.
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.
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.
Gate.io enlisted Hacken in 2020 to meet the requirements in obtaining the Crypto Exchange Ranks (CER) certificate by strengthening its security mechanisms and company practices, including a bug bounty program and penetration test audits.
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.
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.
Gate Ventures later launched another fund worth $200 million to support more alternative layer 1 and layer 2 protocols in November 2022.
In January 2021, Gate.io launched its startup accelerator, Gate Labs, with the goal of supporting entrepreneurs with industry support, best practices and resources.
2022-2023
In 2022, Gate.io launched Gate Learn, a platform for learning in the field of cryptocurrency investments.
In October 2022, Gate.io and the City of Busan starterted setting up and managing the Busan Digital Asset Exchange.
Gate.io also pledged $100 million via the Gate SAFU Fund that aims to support the crypto industry in December 2022.
Gate Group has partnered with Visa to launch a crypto card available to selected countries in the European Economic Area in March 2023.
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.
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.
Legal Status
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, registrations as a Virtual Assets Service Provider (VASP) in Lithuania and Italy, and the registration of charity in Gibraltar.
Gate.io obtained a crypto services license in Lithuania in September 2022.