Bitget Wallet launches fiat withdrawals via MoonPay with 3-4% fees for 25 currencies in 61 regions

Bitget Wallet has introduced a new feature enabling users to convert stablecoins such as USDT and USDC into fiat currencies directly within its non-custodial platform. Powered by payment infrastructure provider MoonPay, the update supports over 25 fiat currencies and is available in 61 regions globally. This functionality expands Bitget’s role beyond asset storage, allowing users to transfer crypto holdings into traditional currency without relying on centralized exchanges for liquidity. Withdrawal fees range between 3% and 4%, with minimums typically set at $20, depending on exchange rates and processing costs.

The integration addresses a growing demand for streamlined self-custody solutions as crypto users increasingly seek control over their assets. Bitget’s CMO, Jamie Elkaleh, highlighted that the feature responds to the decline in spot trading on centralized platforms and the rising preference for in-app, decentralized solutions. By enabling direct fiat withdrawals, the platform reduces the need for intermediaries, offering a more secure and efficient experience for users who prioritize privacy and autonomy.

The collaboration with MoonPay marks a strategic expansion of Bitget Wallet’s ecosystem, which was rebranded from BitKeep in 2023. The addition of fiat on-ramps and now off-ramps completes a seamless buy-and-sell cycle within a single decentralized interface. This move positions Bitget as a bridge between traditional finance and decentralized ecosystems, catering to users who value the flexibility of digital assets and the familiarity of fiat. The integration also reflects a broader industry shift toward hybrid solutions that merge the benefits of crypto and traditional financial systems.

From a user perspective, the update simplifies the process of converting stablecoins into local currencies. Previously, users had to transfer funds to centralized exchanges to access fiat, exposing them to counterparty risks and additional steps. Bitget’s new feature allows the entire process to occur within a non-custodial environment, preserving private key security while enabling direct fiat access. This innovation is expected to resonate particularly with users in regions where crypto adoption is high but traditional banking infrastructure is limited.

The timing of the launch aligns with increasing regulatory scrutiny of centralized exchanges in key markets, driving users toward self-custodial alternatives. Bitget’s integration of fiat withdrawal capabilities addresses this trend, offering a safer and more autonomous method for asset management. The feature also supports the growing demand for cross-asset interoperability, where users seek to fluidly interact with both digital and traditional financial systems.

While the update is a technical milestone for Bitget, its long-term success will depend on user adoption and the reliability of MoonPay’s infrastructure. The feature must navigate varying regional regulatory requirements across the 61 supported regions to ensure seamless performance. Bitget will need to maintain robust compliance frameworks and adapt to local conditions to maximize the utility of the service.

Overall, the introduction of direct fiat withdrawals represents a significant evolution for Bitget Wallet. By prioritizing user control and operational efficiency, the platform is well-positioned to capitalize on the self-custody movement while addressing practical challenges in the crypto-to-fiat transition. As decentralized solutions gain traction, Bitget’s integration of MoonPay’s infrastructure may serve as a model for other wallet providers seeking to enhance their offerings in a competitive market.