- Bitget Wallet now lets users in Nigeria and Mexico convert USDT and USDC to local currency and send money to banks instantly.
- The feature bridges $160B in annual crypto activity to everyday spending, supporting 45+ Nigerian banks and 35+ Mexican banks.
- It offers a simpler alternative to P2P platforms, with more emerging markets planned soon.
Bitget Wallet, a popular finance app, now lets users in Nigeria and Mexico convert USDT and USDC into naira and peso, and send money to local bank accounts in minutes. This is the first major launch of direct stablecoin-to-bank transfers by a global crypto wallet in these countries. The move seeks to make crypto easier to use for everyday spending.
Stablecoin Payments Meet Local Banking Rails
With this new feature, Bitget Wallet users can pay merchants, send money to friends and family, or pay bills directly from their self-custodial wallet. No need for peer-to-peer markets or exchanges. The process works like a regular mobile banking app: pick a crypto asset, enter the amount and bank details, and confirm.
Licensed partners handle the fiat conversion and settlement through regulated channels for instant, reliable, and compliant transfers. The service supports 45+ banks in Nigeria and 35+ in Mexico, with USDT and USDC on BNB Chain, Ethereum, Solana, Tron, and Base.
Bridging Onchain Value With Real-World Spending
Bitget Wallet’s expansion comes as stablecoins grow in importance in countries facing inflation, currency controls, and fluctuating exchange rates. According to Chainalysis, Nigeria leads Africa with over $90 billion in yearly on-chain transactions, while Mexico handled more than $70 billion last year.
The new Bank Transfer feature links this $160+ billion in crypto activity to everyday financial needs, letting users send, spend, and save as easily as local currency.
Solving Long-Standing Conversion Challenges
In Nigeria, crypto users have often relied on P2P platforms, which can have low liquidity, unstable rates, and settlement risks. In Mexico, limited crypto-to-fiat options and regulations have slowed adoption.
Now, Bitget Wallet’s Bank Transfer feature automates the entire process, providing a safer, faster, and cheaper way to convert crypto to cash instantly with a single tap.
“Stablecoins are quickly becoming a new layer of everyday payments in emerging markets, and connecting them to local banking rails is the next step in that evolution,” said Jamie Elkaleh, CMO of Bitget Wallet.
More Markets Coming Soon
Bitget Wallet plans to bring Bank Transfers to more emerging markets soon. The feature adds to its growing payment tools, including a crypto debit card, QR payments, and an in-app lifestyle shop, helping users pay globally in local ways. To celebrate, Bitget Wallet is offering a limited-time zero-fee promotion.
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Source: https://coinedition.com/bitget-wallet-launches-stablecoin-to-bank-transfers-in-nigeria-and-mexico/
