Bitget Wallet Integrates MoonPay for Fiat Withdrawals in 61 Jurisdictions as DeFi Adoption Rises, Centralized Exchange Use Dips 22%

Bitget Wallet, the self-custodial cryptocurrency wallet managed by major exchange Bitget, has partnered with MoonPay to introduce its first fiat withdrawal functionality, enabling users to convert stablecoins into 25 fiat currencies directly within the app. This marks a strategic expansion of the wallet’s capabilities beyond asset storage, aligning with broader trends in decentralized finance (DeFi) where wallets increasingly support full-cycle asset management. The feature, available in 61 jurisdictions, eliminates the need for users to rely on centralized exchanges for fiat conversions, streamlining the process of exiting crypto positions.

The off-ramp service, operational since August 2023, initially supports Tether’s USDt (USDT) and USDC, a stablecoin co-developed by Circle and Coinbase. Users can now convert these stablecoins into fiat equivalents such as U.S. dollars, euros, British pounds, Swiss francs, and Australian dollars, among others. MoonPay, the payment platform facilitating the integration, noted the potential for future expansion to include additional stablecoins. This development reflects growing demand for self-custodial solutions that prioritize user control while simplifying crypto-to-fiat transactions.

Bitget Wallet’s chief market officer, Jamie Elkaleh, emphasized the significance of the feature in closing the loop on in-app asset management. Previously, users had to transfer funds to centralized exchanges or third-party platforms for fiat conversion. The new off-ramp, combined with existing on-ramp capabilities introduced in 2023, creates a unified ecosystem where users can purchase and sell crypto without leaving the wallet. Elkaleh highlighted that this evolution aligns with industry data showing a 22% decline in spot trading on centralized exchanges in Q2 2025, underscoring shifting user preferences toward decentralized tools.

Transaction fees for the off-ramp feature vary, typically ranging between 3-4% of the transaction amount. These costs include processing and foreign exchange-related expenses, which may fluctuate based on real-time currency spreads. While there is no fixed minimum withdrawal amount set by Bitget Wallet, MoonPay imposes minimum thresholds for selected currencies and payment methods—approximately $20 or equivalent in local currency. The absence of rigid limits aims to accommodate both individual users and higher-volume transactions.

As the first off-ramp addition since Bitget Wallet’s 2023 launch under the rebranded Bitget brand (formerly BitKeep), this feature follows a $30 million acquisition of a controlling stake in the wallet by Bitget. The integration with MoonPay, previously used for on-ramp purchases via cards and Apple Pay, now covers both buying and selling functions within the app. This expansion underscores a broader strategy to position Bitget Wallet as a comprehensive self-custodial platform, bridging the gap between DeFi’s autonomy and traditional finance’s accessibility.

The launch responds to practical user needs for simplified, trustless conversions while reducing reliance on centralized intermediaries. By embedding fiat withdrawal capabilities directly into the wallet, Bitget Wallet addresses a critical pain point in the crypto ecosystem, where seamless on- and off-ramp infrastructure remains a key growth driver. With continued innovation in self-custodial services, the wallet aims to enhance user experience while advancing the decentralized finance narrative.