Global alliance formed by Bitget Wallet, Mastercard, and Immersve for the launch of a worldwide cryptocurrency card.
In a significant move towards integrating decentralized assets into the existing financial landscape, Bitget Wallet, Mastercard, and Immersve have announced a partnership to introduce a crypto-linked payment card. This collaboration aims to make cryptocurrencies more practical for everyday transactions.
The new card, accessible via the Bitget Wallet application, supports real-time funding mechanisms and can be used at over 150 million Mastercard-accepting merchants worldwide. Key features include:
1. **Real-time funding via on-chain swaps and deposits:** Users can instantly fund their card by swapping crypto assets or making deposits on-chain, eliminating delays and manual conversions.
2. **Digital-first application and instant issuance:** Leveraging Mastercard's Digital First platform, users can apply for the card digitally and add it to mobile wallets like Apple Pay or Google Pay within minutes, enabling quick tap-and-pay at both physical and online merchants.
3. **Seamless crypto to fiat conversion on-chain:** Powered by Immersve, a Mastercard-licensed issuer, transactions are settled on-chain by converting cryptocurrencies to fiat in real time, allowing users to use crypto funds just like traditional currency while staying compliant with KYC and AML regulations.
4. **Global merchant acceptance:** The wide acceptance network of Mastercard enables users to spend crypto funds worldwide, bridging the gap between self-custodied crypto assets and mainstream commerce.
5. **Additional user incentives and no top-up fees:** The card offers attractive features such as zero fees on topping up, potential yield on idle balances, transaction-based rewards, and bonuses for identity verification, further enhancing usability and value.
6. **Gradual geographic rollout:** Starting in the UK and EU, with plans to expand to Latin America, Australia, and New Zealand, the card is positioned to enable broader, practical crypto use across multiple regions.
Immersve views its role as bridging the gap between Web3 innovation and traditional finance, enabling users to spend cryptocurrencies with the same ease and acceptance as fiat money on a global scale. Mastercard and Immersve view the new crypto card as a means to enable users to spend cryptocurrencies with the same ease and acceptance as fiat money on a global scale.
This collaboration creates a fast, secure, and user-friendly bridge between cryptocurrencies and conventional payments by integrating crypto wallets seamlessly with Mastercard's extensive merchant network and regulatory-compliant infrastructure, making everyday crypto spending as simple as traditional card payments. The new crypto card is expected to accelerate the practical adoption of cryptocurrencies in everyday life by delivering a user-friendly solution that addresses compliance, speed, and global accessibility.
- As the new crypto-linked payment card, supported by the Bitget Wallet, Mastercard, and Immersve, enables real-time funding via on-chain swaps and deposits, it bridges the gap between the lifestyle of early crypto adopters and mainstream financial industry, making transactions more accessible and convenient.
- The collaboration between these three entities also signifies a significant step towards technology integration, as the card leverages advanced on-chain solutions and digital-first applications to offer seamless crypto to fiat conversion, thereby making technology an essential element in the future of finance and daily lifestyle.
