Bitget Wallet Launches Zero-Fee Crypto Card with Mastercard for Global Payments

Bitget Wallet, in collaboration with Mastercard and Immersve, has launched a new crypto card that enables users to make fee-less payments directly from their digital wallets. This innovative card allows users to spend their cryptocurrencies at over 150 million merchants worldwide that accept the Mastercard network. The initial launch of the crypto card is set for the United Kingdom and European Union, with plans to expand into Latin America, Australia, and New Zealand in the coming months.

The Bitget Wallet app provides users with the ability to obtain their own crypto card and load it in real-time through swaps and on-chain deposits. Leveraging Mastercard's Digital First technology, users can add the crypto card to their mobile wallet in just a few minutes, facilitating seamless transactions at both physical and online merchants. Immersve, a licensed Mastercard issuer, plays a crucial role in regulating on-chain transactions by converting cryptocurrencies to fiat, ensuring compliance with regulatory frameworks, including Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.

To encourage the adoption of the new crypto card, Bitget and Mastercard are offering various incentives and rewards. These include transaction-based rewards, returns on inactive balances in the portfolio, and one-time bonuses for completing identity verification. Jamie Elkaleh, CMO of Bitget Wallet, highlighted the significance of this partnership, stating that it provides the infrastructure to make cryptocurrency payments as secure as traditional transactions. This collaboration aims to meet the growing demand for real utility in cryptocurrencies, allowing users to pay with cryptocurrencies wherever Mastercard is accepted.

The launch of this zero-fee crypto card is part of a broader trend where crypto wallets are evolving from simple tools for custody and transfer to more comprehensive platforms that support various on-chain activities. According to a recent report by Bitget Wallet, 48% of users engage in trading, 46% earn rewards, and 40% make payments through their crypto wallets. Other reported use cases include staking or yield farming, monitoring market trends, and discovering new tokens. Notably, the GenZ demographic is leading the way in using crypto wallets for payments.

This partnership between Bitget Wallet, Mastercard, and Immersve represents a significant step forward in the integration of cryptocurrencies into mainstream financial systems. By offering a zero-fee crypto card, the collaboration aims to make cryptocurrency payments more accessible and convenient for users, aligning with the broader vision of enhancing the utility of digital currencies in everyday transactions.

The card supports 130+ blockchains, and users get 5 USDC upon KYC completion. The partnership between Bitget Wallet, Mastercard, and Immersve is significant as it facilitates wider adoption of cryptocurrency in daily transactions, while promoting secure and cost-effective solutions for users. The card's introduction could influence global crypto spending patterns, supporting multi-token transactions across numerous blockchains. Mastercard's vast merchant network, with over 150 million points, further enhances the reach. Potential financial implications include increased transaction volumes for supported cryptos, while enhancing user protection with Bitget’s $300 million fund. The initiative aligns with global financial compliance standards. The adoption of such digital financial solutions could drive broader regulatory discussions. Historical comparisons to similar cards suggest potential for increased crypto adoption and spending, fostering a dynamic, tech-driven financial ecosystem.