Friday, 19 July 2024

Crypto News

Bitget introduces the Bitget Card to boost crypto adoption

Bitget introduces the Bitget Card to boost crypto adoption

  • The Bitget Card will be accepted at all locations that support Visa cards.
  • Applicants for the card will go through a standardized KYC process, with virtual or physical cards available to eligible individuals.
  • The USD-denominated card will initially support USDT, but Bitget will add other top stablecoins and cryptocurrencies.

Bitget has introduced Bitget Card, a Visa Platinum card offering US dollar-denominated transactions, to help drive crypto adoption across the globe.

The new card will initially be available to the exchange’s internal staff, Bitget said in an announcement shared with CoinJournal. Afterwards, it will gradually expand availability to include other eligible users, targeting global access in the first half of the year.

Bitget Card to support online and offline transactions

As part of the application process, Bitget Card users will complete a standardized know-your-customer (KYC) process. If successful, applicants will receive a virtual card that’s compatible with mobile payment wallets such as Apple Pay and Google Pay, the exchange said.

Bitget Card embodies our commitment to fostering a financial landscape where everyone can participate in the crypto revolution. By seamlessly connecting traditional and digital finance, we are not just introducing a card but paving the way for a more inclusive and equitable future,” Gracy Chen, Managing Director of Bitget, stated in a statement.

Bitget will also ship physical cards, with VIP customers receiving a metal card. Meanwhile, card users will benefit from support for both online and offline transactions as well as access to ATM withdrawals.

Bitget Card offered in partnership with Reap

Users can tap into their USD-denominated Bitget Card at any location that accepts Visa. The card will also support high-value transactions and offer substantial monthly spending limits. Bitget plans to introduce BGB rebates and other cardholder privileges soon.

For Bitget Card to authorize USD payments, users will have to maintain a sufficient balance of USDT in their funding account. In future, the card will add support for other stablecoins or cryptocurrencies. Bitget says the card will not incur annual or application fees.

Bitget is partnering with Reap, a Visa Principal Card Issuer, to introduce the Bitget Card. 

Reap allows businesses and platforms to issue their own cards without…

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