Bitget and Fiat24 partner for adoption of PayFi solutions globally
Bitget, a cryptocurrency exchange with over 45 million registered users worldwide, has partnered with Fiat24, a Swiss company.
#Bitget partners with @Fiat24Official to revolutionize PayFi! 🚀🌍
— Bitget (@bitgetglobal) December 20, 2024
🔐 Advancing crypto payments with $ETH, $BGB, and $USDC—bridging traditional and decentralized finance with seamless, secure solutions.
Find out more👇https://t.co/TRRlYU5Kh8
Bitget and Fiat24 partnership
The announcement stated that the collaboration between Bitget and Fiat24 will increase the use cases for cryptocurrencies, particularly Bitget token (BGB), Ethereum (ETH), and stablecoins such as USD coin (USDC), in over 65 countries.
Expanding the use cases for BGB, ETH, and stablecoins
Bitget is eager to expand internationally in order to compete with other leading cryptocurrency exchanges targeting the same market. Because of this, the Bitget team has been working on making the $BGB ERC-20 token a globally recognized and highly liquid asset.
The partnership with Bitget will significantly close the gap between decentralized and traditional financial ecosystems. Additionally, Fiat24 and Mastercard have a long-standing partnership that allows users to use their debit card to make payments anywhere in the world.
Gracy Chen, CEO at Bitget, stated that “We are excited to collaborate with Fiat24 to advance crypto payments and simplify access to financial services for users worldwide, especially the unbanked. PayFi will be one of Bitget and BGB’s long-term strategies and a key approach to enhancing the real-world impact of crypto assets.”
With its expanding BGB token, Bitget has recently placed a great deal of emphasis on enabling PayFi services. The exchange has already introduced a number of products to improve its PayFi services, such as Bitget Pay and Bitget Card, which allow users to make quick cryptocurrency payments for a small fee.
Bitget strategic partnerships to penetrate new markets, including the U.S
As a panelist at The Block's inaugural conference, Emergence, on December 6, Bitget CEO Gracy Chen highlighted that centralized exchanges (CEXs) and decentralized exchanges (DEXs) cater to different customers, implying that their coexistence will rely on serving complementary markets.
Chen added that Bitget is considering forging partnerships in order to penetrate new markets, such as the US. In addition to acquiring some banks to make them more like new banks rather than the more traditional HSBC or Bank of America type of large banks, she stated that they are currently reconsidering whether they can enter the market through a joint venture with someone who has so many licenses.
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