What happened?
Bitget Wallet, a non-custodial service, has introduced ‘Shop with Crypto’, an in-app marketplace enabling users to make direct purchases with cryptocurrencies. This marketplace supports crypto-native transactions without converting crypto into fiat, and offers access to over 300 global brands for various services including digital wallet top-ups, mobile recharges, and e-commerce gift cards. The launch aims to enhance both the adoption of cryptocurrency and the efficiency of payments.
Who does this affect?
This initiative primarily impacts cryptocurrency holders who want to spend their digital assets on everyday goods and services. It benefits users who wish to engage in straightforward crypto transactions for shopping on platforms like Amazon, Walmart, Google Play, and others. Merchants are also affected, as they can now accept stablecoin payments through Paydify from Bitget Wallet users.
Why does this matter?
The introduction of ‘Shop with Crypto’ is significant as it strengthens crypto’s practical utility, potentially increasing its market adoption. By integrating with major retail platforms and enabling diverse payment options like Pay Direct, Scan to Pay, and Tap to Pay, Bitget Wallet is reducing barriers to everyday crypto transactions. This move could drive more consumer and merchant interest towards adopting cryptocurrencies for regular transactions, broadening the crypto finance ecosystem.