Mastercard and Bitget Wallet Launch Zero-Fee Crypto Cards for Global Payments

Mastercard has joined forces with Bitget Wallet to launch a new line of zero-fee crypto cards, marking a significant advancement in the integration of cryptocurrency into mainstream financial services. This collaboration, facilitated by Immersve, a licensed issuer, enables users to make payments directly from their Bitget Wallet without incurring any fees. The crypto cards will be available through the Bitget Wallet app and support real-time payments through on-chain swaps and deposit features, allowing users to make purchases at over 150 merchants worldwide that accept Mastercard payments.

The initial release of these crypto cards will be in select regions, starting with the United Kingdom and the European Union. Following the launch, the firms plan to expand the utility of these cards to parts of Latin America, Australia, and New Zealand in the coming months. Users can apply for digital cards and receive them within minutes, thanks to Mastercard’s “Digital First” feature. Once approved, the card will be added to their mobile wallets, ready for use at both physical and online merchants.

Transactions made with these crypto cards are settled on-chain by directly converting crypto into fiat, ensuring compliance with regulatory requirements. This partnership underscores Mastercard's commitment to making crypto transactions simple, secure, and accessible at scale. Executive Vice President of Global Partnerships at Mastercard, Scott Abrahams, highlighted that this collaboration is a major step in bringing digital assets closer to widespread adoption, noting that digital wallets are becoming as ubiquitous as email addresses.

Jamie Elkaleh, CMO at Bitget Wallet, echoed Abrahams' sentiments, stating that there is a growing demand for real-world crypto utility. The partnership with Mastercard and Immersve aims to make this vision a reality by providing users with the ability to pay with crypto anywhere Mastercard is accepted. This initiative is expected to set a new standard for crypto payment solutions, offering users a more efficient and cost-effective way to spend their digital assets.

Mastercard's recent partnerships, including one with Chainlink to enable direct on-chain crypto purchases, further demonstrate the company's commitment to integrating cryptocurrency into its services. Earlier predictions by Mastercard indicate that all transactions in the EU will be tokenized by 2030, highlighting the company's forward-thinking approach to digital currencies. This strategic move is part of a broader trend in the financial industry towards embracing digital currencies, as more companies recognize the potential of cryptocurrency and invest in technologies and partnerships that facilitate its use.

The introduction of zero-fee crypto cards by Mastercard and Bitget Wallet is a testament to the growing acceptance of cryptocurrency as a legitimate form of payment. By removing the barriers associated with transaction fees, this initiative is poised to attract a wider audience to the world of digital currencies. As the financial landscape continues to evolve, partnerships like this one will play a crucial role in shaping the future of cryptocurrency and its integration into everyday financial transactions.