Bitget Mastercard Crypto Payment Card Hits 150M Merchants
Bitget Wallet has partnered with Mastercard and web3 payments firm Immersve to launch a new crypto payment card. Accepted at over 150 million merchants across the UK and EU initially, the card will soon expand to Latin America, Australia, and New Zealand. This crypto payment card offers convenience by eliminating extra steps like transfers between exchanges, banks and wallets. It enables onchain swaps directly in-app, allowing users to convert digital assets to spending funds immediately. Bitget emphasizes compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations to enhance security and regulatory trust. Cardholders can earn transaction rewards and interest on remaining crypto balances, plus receive one-time bonuses for identity verification. Jamie Elkaleh, Bitget Wallet CMO, highlights the drive to make crypto payments as secure and seamless as traditional methods. The launch underscores the growing real-world utility of cryptocurrencies and sets a compliance benchmark for other startups and DAOs.
Bullish
Increasing merchant acceptance and streamlined real-world utility often drive crypto demand. By enabling direct crypto payments at 150M merchants and offering onchain swaps, Bitget’s card reduces friction, potentially boosting trading volumes for supported assets as users acquire and spend more. Similar launches, like Crypto.com and Binance cards, generated bullish market sentiment by broadening everyday use cases. In the short term, anticipation of wider adoption may lift asset prices. Long-term, improved regulatory compliance and user incentives might strengthen overall market stability and growth as infrastructure matures.