Mastercard Collaborates with Bitget Wallet to Introduce Zero-Fee Crypto Cards
Bitget Wallet has partnered with Mastercard and its authorized issuer Immersve to launch innovative crypto cards that allow fee-free payments directly from the digital wallet.
According to a press release shared with crypto.news, the crypto card is accessible directly through the Bitget Wallet app, enabling real-time payments via on-chain swaps and deposit functionalities. Users can pay directly from their digital wallets at more than 150 merchants worldwide that accept Mastercard.
The introduction of these new crypto cards will commence in selected regions, starting with the United Kingdom and the European Union. The companies plan to expand availability to parts of Latin America, Australia, and New Zealand in the upcoming months.
By leveraging Mastercard’s “Digital First” feature, users can apply for digital cards and receive them within minutes. Once approved, the card will be incorporated into their mobile wallets, making it ready for in-store and online transactions.
Transactions, facilitated by the Mastercard-licensed issuer Immersve, are settled on-chain by directly converting cryptocurrencies into fiat currency. This mechanism complies with the payment company’s regulatory standards, including Know-Your-Customer and Anti-Money-Laundering requirements.
Scott Abrahams, Executive Vice President of Global Partnerships at Mastercard, expressed that the collaboration with Bitget Wallet marks a crucial step in enhancing the acceptance of digital assets. He believes that digital wallets are becoming as standard as email addresses.
“We’re committed to working with innovative companies like Bitget Wallet and Immersve to simplify, secure, and scale crypto transactions,” Abrahams affirmed.
Jamie Elkaleh, CMO at Bitget Wallet, echoes Abrahams’ sentiments, highlighting an increasing demand for practical crypto applications. He stressed that the partnership with Mastercard and Immersve aims to “bring that vision to life.”
“Crypto payments should be as smooth and secure as traditional transactions. With this alliance, Bitget Wallet users can now transact with crypto wherever Mastercard is accepted,” Elkaleh added.
Recently, Mastercard collaborated with Chainlink to facilitate direct on-chain crypto purchases through off-chain payments for over 3 billion users. Earlier in June, the payment card company also predicted that all transactions in the EU would be tokenized by 2030.