Mastercard joins forces with Bitget Wallet to release zero-fee crypto cards
Bitget Wallet partners with Mastercard and its licensed-issuer Immersve to launch new crypto cards that allow for fee-less payments directly from the digital wallet.
According to a press release sent to crypto.news, the crypto card is available directly through the Bitget Wallet app and supports real-time payments through on-chain swaps and deposit features. It allows users to make payments directly through digital wallets at more than 150 merchants worldwide that accept Mastercard payments.
The new crypto cards will first be released in select regions, starting with the United Kingdom and the European Union . The firms plan to expand its utility to parts of Latin America , Australia and New Zealand in the next few months following its launch.
Making use of the payment giant’s “Digital First” feature, users can apply for digital cards and receive theirs within minutes. Once the request is approved, the card will be added to their mobile wallets , ready for use at physical and online merchants.
Supported by Mastercard-licensed issuer, Immersve, transactions are settled on-chain by directly converting crypto into fiat. The process is in accordance with the payment firm’s regulatory compliance, which includes Know-Your-Customer and Anti-Money-Laundering requirements.
Executive vice president, Global Partnerships at Mastercard, Scott Abrahams, stated that the partnership with Bitget Wallet marks a major step in bringing digital assets closer to widespread adoption. He believes that digital wallets are becoming the norm, akin to email addresses.
“We’re committed to working with innovative companies like Bitget Wallet and Immersve to make crypto transactions simple, secure, and accessible at scale,” said Abrahams.
CMO at Bitget Wallet, Jamie Elkaleh, echoes Abrahams’ sentiment. He stated that there is now an increase in demand for real-world crypto utility, and the digital wallet firm’s partnership with Mastercard and Immersve serves to “make that vision a reality.”
“Crypto payments should be as seamless and secure as traditional transactions. With this partnership, Bitget Wallet users can now pay with crypto anywhere Mastercard is accepted,” said Elkaleh.
Most recently, Mastercard partnered with Chainlink to offer enable direct on-chain crypto purchases through off-chain payments to more than 3 billion users. Earlier in June, the payment card firm also predicted that the entirety of its transactions in the EU will be tokenized by 2030.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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