Bitget Wallet, in partnership with Mastercard, has announced the launch of a virtual card that allows users to spend digital assets anywhere Mastercard is accepted.
New Crypto Card from Bitget and Mastercard
The virtual card is available through the Bitget Wallet app and enables users to conduct real-time transactions via on-chain swaps and deposits. This eliminates the need to move assets between platforms, and users can get approval and load the card into their mobile wallet in just minutes.
Card Usage Conditions
The card supports over 150 million merchant locations worldwide, with all transactions compliant with Mastercard's regulatory standards, including anti-money laundering (AML) and know-your-customer (KYC) protocols. The rollout begins in the UK and EU, with plans to expand into Latin America, Australia, and New Zealand.
Significance of the Initiative for the Crypto Industry
With this new offering, Bitget Wallet aims to strengthen the real-world application of cryptocurrency. According to Bitget's CMO, Jamie Elkaleh, the new card seeks to make digital transactions as seamless as traditional payments. Notably, Mastercard also views this initiative as part of a broader mission to enhance the security and accessibility of crypto transactions.
The launch of the virtual crypto card by Bitget and Mastercard may signify an important step towards integrating cryptocurrencies with the traditional financial system and fostering greater interest in real-world applications of crypto assets.
