Bitget Wallet is making waves in the crypto world with the launch of its new payment card in collaboration with Mastercard and infrastructure provider Immersve. This innovative card will allow Bitget Wallet users to spend their crypto at over 150 million merchants worldwide, opening up a whole new world of possibilities for digital asset holders.
The Bitget Wallet Card, available through the Bitget Wallet app, boasts a range of benefits including no fees and real-time funding through on-chain swaps and deposits. Purchases made with the card will be settled on-chain via crypto-to-fiat conversions, providing a seamless and efficient user experience.
Initially launching in the UK and European Union, with plans to expand to Latin America, Australia, and New Zealand in the future, the Bitget Wallet Card leverages Mastercard’s suite of Digital First tools. Users can easily apply for the card through the Bitget Wallet app and add it to their smartphone wallets within minutes, thanks to Immersve’s backend infrastructure support.
CEO Jerome Faury of Immersve explained that his firm provides the necessary infrastructure to connect the self-custodial wallet with Mastercard’s payment rails, enabling real-time, blockchain-native spend while ensuring compliance with regulatory requirements.
The launch of the Bitget Wallet Card comes in response to growing demand from users for a convenient way to make day-to-day payments using crypto. Bitget Wallet CMO Jamie Elkaleh noted that 40% of surveyed Bitget wallet users globally have already used crypto for payments, with particularly high demand in emerging markets like Southeast Asia and Africa.
Elkaleh emphasized the increasing traction in the ‘Pay’ vertical for Bitget Wallet, with the card serving as a natural extension of this demand. He highlighted the appeal of the card among Millennial and Gen Z users, as well as regions with less developed banking infrastructure.
While the card is being rolled out across multiple continents, including the UK and EEA, there are currently no plans for a launch in North America, specifically the United States. Elkaleh explained that regulatory considerations play a significant role in determining the card’s availability in different markets.
Despite the absence of a confirmed launch date for the US market, Bitget Wallet and its partners are actively exploring opportunities for expansion. Other cryptocurrency platforms like Gemini and Coinbase have already launched cards in the States, with Mastercard expressing its commitment to bridging the gap between crypto and traditional finance.
The launch of the Bitget Wallet Card signifies a growing trend of crypto-linked cards for online purchases, with data showing that nearly half of all payments made with such cards are for values of €10 or lower. The average transaction value for crypto cards is €23.70, slightly lower than traditional bank cards at €33.60.
Overall, the Bitget Wallet Card represents a significant step forward in the integration of crypto into everyday transactions, providing users with a secure and convenient way to spend their digital assets. With Mastercard’s support and Immersve’s infrastructure, this card is set to revolutionize the way people interact with cryptocurrencies in the global marketplace.