Bitget Wallet has introduced a new card enabling direct payments from users’ digital wallets. The initiative involves Mastercard and payment provider Immersve. Initially, access will be granted to users in the United Kingdom and European Union, with other regions to follow soon.
Payment Card With Cryptocurrency Balance
According to the announcement, the new card from Bitget Wallet supports payments at over 150 million merchants worldwide - anywhere Mastercard is accepted. Users will be able to pay both in physical stores and online simply by loading the digital version of the card into the Bitget Wallet app.
The card will first be available in the United Kingdom and European Union. Rollouts are planned for Latin America, Australia, and New Zealand in the near future.
Earn Interest on Balance and KYC Bonus
Customers will gain more than just a payment tool. The product also offers additional earning opportunities:
- Interest on unused balances
- Transaction rewards
- A one-time bonus for completing identity verification (KYC)
Expanding Crypto Payment Infrastructure
Bitget Wallet’s Chief Marketing Officer Jamie Elkaleh stated that crypto payments should be as simple and secure as traditional ones. He emphasized that this solution will allow users to pay for goods and services with crypto wherever Mastercard is accepted.
Scott Abrahams, Executive Vice President of Global Partnerships at Mastercard, noted that digital wallets are becoming mainstream and that Mastercard is ready to work with companies like Bitget Wallet and Immersve to simplify crypto transactions.
From a technical standpoint, crypto transaction processing will be handled by Immersve. The company manages the onchain-to-fiat conversion and ensures compliance with identification and anti-money laundering requirements.
Growing Trend of Crypto Reward Cards
The launch of Bitget Wallet comes amid a wave of similar initiatives. In June, Coinbase unveiled an American Express-based card offering up to 4% cashback in BTC.
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This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.
