Mastercard collaborates with Bitget Wallet on a groundbreaking crypto debit card project.
In a groundbreaking move, Bitget Wallet, Mastercard, and Immersve have partnered to introduce a new crypto-linked payment card. This innovative card aims to seamlessly integrate cryptocurrency spending into everyday commerce, bridging the gap between decentralized self-custody crypto assets and real-world commerce.
The card allows users to make payments directly from their self-custodied Bitget Wallets at over 150 million merchants worldwide that accept Mastercard. It leverages Mastercard's Digital First platform for a fully digital application process, enabling users to get a virtual card added to their mobile wallet within minutes.
Transactions are settled onchain, with crypto-to-fiat conversion managed under Mastercard’s regulatory framework, including mandatory Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance. The partnership with Immersve, a principal member of the Mastercard network and a registered financial services provider, enables transactions to be settled on the blockchain via a crypto-fiat conversion.
The initial launch is focused on the United Kingdom and the European Union. Expansion is planned soon for Latin America, Australia, and New Zealand, aligning with the growing trend of incorporating blockchain-enabled solutions into mainstream finance and broadening the practical utility of cryptocurrency.
The card offers several benefits, including optional incentives like transaction-based rewards, yield on idle wallet balances, and one-time bonuses for identity verification completion. It also enables both physical and online merchant payments globally with a seamless user experience through digital issuance and immediate mobile wallet integration.
This collaboration harnesses Mastercard’s global network and compliance expertise, Immersve’s infrastructure, and Bitget Wallet’s large user base to offer a smooth, regulated, and rewarding crypto payment experience worldwide. Jerome Faury, CEO of Immersve, stated that this collaboration is key to developing the real-world use of cryptocurrencies.
Users can request the card directly from the Bitget Wallet app and add it to their mobile wallet in just a few minutes. The card uses the stablecoin USDC for transactions and offers a reward program, zero reload fees, and the ability to earn interest on idle balances. This type of partnership with major players like Mastercard strengthens the legitimacy and utility of digital currencies within the broader crypto ecosystem.
The announcement was made at the Ethereum Community Conference, emphasizing the importance of this innovation for the crypto ecosystem. This card is a practical solution for using digital assets in daily life without the need to convert them to fiat currency via exchange platforms.
- Users can access the crypto academy to learn about using the new crypto-linked payment card, which allows them to make payments directly from their self-custodied Bitget Wallets, bridging the gap between their cryptocurrency assets and everyday commerce.
- The partnership between Bitget Wallet, Mastercard, and Immersve not only offers a rewarding crypto payment experience worldwide but also contributes to the development of the real-world use of cryptocurrencies, aligning with the growing trend of incorporating blockchain-enabled solutions into mainstream finance, particularly in the finance and technology sectors.
