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Bitget Wallet has introduced a zero-fee cryptocurrency card on the Mastercard payment network. This new offering enables users to make payments directly from their decentralized wallet at more than 150 million merchants globally.
The Bitget Wallet team has announced the launch of a new crypto card created in collaboration with Mastercard and Immersve, allowing users to utilize digital assets directly from their wallet without any issuance or top-up fees. As stated in a prior press release, the card is currently accessible to users in the U.K. and EU nations, with intentions to extend availability to Latin America, Australia, and New Zealand.
The Bitget Wallet Card is integrated into the wallet’s mobile application and facilitates instant top-ups through on-chain swaps using the USDC stablecoin issued on the Base L2 blockchain. Users of Bitget Wallet can generate a virtual card in just a few minutes and add it to their mobile wallet for transactions in physical stores and online platforms.
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A significant technical aspect is the participation of licensed issuer Immersve, which enables on-chain crypto-to-fiat conversion while adhering to all regulatory standards, including KYC and AML protocols. Users maintain control over their assets, with funds remaining in the wallet until utilized, and top-ups occurring without custodial involvement.
Jamie Elkaleh, CMO of Bitget Wallet, remarked on the launch, highlighting the increasing demand for microtransactions using cryptocurrency. He referenced data from the European Central Bank indicating that in the eurozone, transactions below €10 account for 45% of all crypto card activities, while online payments represent 40%, nearly double the proportion for traditional bank cards.
He also mentioned the Bitget Wallet Onchain Report, which reveals that 37% of users in Western Europe and 41% in Eastern Europe primarily use the wallet for payments. Furthermore, up to 60% of users in Southeast Asia and over 40% in Latin America are already employing crypto wallets for daily transactions. However, current solutions face challenges due to high fees and limited self-custody options. The Bitget Wallet Card addresses these issues by providing zero fees, a non-custodial asset management model, and immediate transaction confirmations.
In September 2024, a crypto debit card from MetaMask, issued in partnership with Mastercard and Baanx, became available to users in the EU and U.K.
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