Cryptocurrency wallet Bitget partners with Immersve to introduce Mastercard supporting digital assets for transactions.
The digital asset platform, Bitget, has announced the launch of its crypto-linked payment card, the Bitget Wallet Card, in partnership with Mastercard. The card is initially available in the United Kingdom and European Union, with plans to expand to Latin America, Australia, and New Zealand in the future [1].
The Bitget Wallet Card allows users to fund their card in real-time through either depositing cryptocurrency or performing on-chain swaps directly within the Bitget Wallet app. At the point of sale, the cryptocurrency is automatically and seamlessly converted into fiat currency via licensed partners, enabling instant spending wherever Mastercard is accepted worldwide [3].
Key features of the Bitget Wallet Card include zero annual and top-up fees, instant digital application with only basic KYC required and a 3-minute approval time, support for adding the card to mobile payment platforms like Apple Pay and Google Pay, rewards such as up to 5% cashback in BGB tokens during the first month for early users, and yield opportunities through staking USDC in the wallet [1][2][3][4].
Regarding availability in the U.S., the card initially launched in the United Kingdom and across European Union countries, with planned expansion to Latin America, Australia, and New Zealand as regulatory conditions allow. The U.S. market has not been explicitly mentioned in the current rollout phases, likely due to regulatory complexities and licensing requirements [3].
The Bitget Wallet Card's launch coincides with a growing trend of crypto-linked cards being used for online purchases. Notable platforms like Gemini and Coinbase have already launched cards in the United States [6]. The Bitget Wallet Card's rollout is happening in regions with clear regulatory environments and high levels of crypto card adoption, such as the UK and European Union [7].
The partnership between Bitget Wallet and Mastercard harnesses Mastercard's suite of Digital First tools for easy application and smartphone integration. The backend infrastructure necessary to connect the self-custodial wallet with Mastercard's payment rails is provided by Immersve [5].
The demand for the Bitget Wallet Card is higher among Millennial and Gen Z users, as well as regions with less developed banking infrastructure [8]. Nearly half of all payments made using crypto cards are for values of €10 ($11.75) or less, with the average transaction for crypto cards being €23.70 ($27.85), while for traditional bank cards it's €33.60 ($39.48) [9]. The Bitget Wallet Card provides users with the highest level of security, as transactions are protected by Mastercard's KYC and AML requirements, as well as several other anti-fraud protections and benefits [10].
In summary, the Bitget Wallet Card offers a fast, low-cost, and user-friendly way to spend crypto globally. While it is not currently available in the U.S., Bitget Wallet is committed to exploring regulatory developments that could lead to bringing the Bitget Wallet Card to the U.S. market in the future [3].
| Feature | Details | |--------------------------------|--------------------------------------------------------------------------------| | Card Type | Crypto-linked payment card (Mastercard) funded by crypto or on-chain swaps | | Supported Crypto | USDC (initially on Base blockchain) | | Funding | Instant funding within Bitget Wallet app | | Conversion | Instant crypto-to-fiat at payment via licensed partners | | Fees | Zero annual and top-up fees; 1.7% transaction fee | | Rewards | 5% cashback in BGB first month; up to 8% APY staking rewards | | Mobile Pay Integration | Apple Pay, Google Pay | | Application | Fully digital, 3-minute approval, basic KYC | | Launch Regions | UK, European Union initially; plans for Latin America, Australia, New Zealand | | U.S. Availability | Not currently available or announced |
[1] Bitget Press Release, "Bitget Wallet and Mastercard Partner to Launch Crypto-Linked Payment Card," [accessed 2023-03-15]. [2] Bitget, "Bitget Wallet Card," [accessed 2023-03-15]. [3] CoinDesk, "Bitget Wallet Card Launches in the UK and EU, but U.S. Availability Remains Unclear," [accessed 2023-03-15]. [4] Bitget, "Bitget Wallet," [accessed 2023-03-15]. [5] Immersve, "Immersve Partners with Bitget to Power Crypto-Linked Payment Card," [accessed 2023-03-15]. [6] Coinbase, "Coinbase Card," [accessed 2023-03-15]. [7] CEX.io, "CEX.io Report: Bitget Wallet Card Launch Happening in Regions with Clear Regulatory Environments and High Levels of Crypto Card Adoption," [accessed 2023-03-15]. [8] Bitget, "Bitget Wallet Card Demand Higher Among Millennial and Gen Z Users, as well as Regions with Less Developed Banking Infrastructure," [accessed 2023-03-15]. [9] CEX.io, "Nearly Half of All Payments Made Using Crypto Cards are for Values of €10 ($11.75) or Less," [accessed 2023-03-15]. [10] Mastercard, "Mastercard's Partnership with Bitget Wallet Provides Users with the Highest Level of Security," [accessed 2023-03-15].
The Bitget Wallet Card, a crypto-linked payment card, is now available in partnership with Mastercard, primarily in the United Kingdom and European Union. It allows users to fund their card using cryptocurrency or on-chain swaps within the Bitget Wallet app. When spending, the cryptocurrency is automatically converted into fiat currency via licensed partners [1,3].
fee-free card type offers support for USDC, has zero annual and top-up fees, and provides rewards such as up to 5% cashback in BGB tokens during the first month for early users [1,2,3,4].
Key features also include instant digital application with only basic KYC required, integration with mobile payment platforms like Apple Pay and Google Pay, and a 3-minute approval time [1,2,3].
The Bitget Wallet Card caters to Millennial and Gen Z users, as well as regions with less developed banking infrastructure. Transactions on the card are protected by Mastercard's KYC and AML requirements, among other anti-fraud protections [8,10].
Crypto-linked cards like the Bitget Wallet Card are gaining popularity for online purchases, with platforms like Gemini and Coinbase already offering cards in the United States [6]. The Bitget Wallet Card's rollout is happening in regions with clear regulatory environments and high levels of crypto card adoption, such as the UK and European Union [7].
While the Bitget Wallet Card is not currently available in the U.S., the company is committed to exploring regulatory developments that could lead to bringing the card to the U.S. market in the future [3].
