What happened?
Bitget Wallet has integrated with the crypto payment platform Paydify, becoming its first wallet integration partner. This partnership allows merchants to accept stablecoins like Tether (USDT) and USD Coin (USDC) through Paydify from Bitget Wallet users. The integration aims to expand crypto’s practical use by allowing instant payments at select online and physical merchants without the need for complex blockchain setups.
Who does this affect?
This development primarily affects merchants and Bitget Wallet users. Merchants can now easily accept stablecoin payments and will benefit from waived settlement fees during the pilot period, making it more attractive for them to onboard. Additionally, Bitget Wallet users gain the ability to use their digital assets for everyday purchases, enhancing the usability of their stablecoins.
Why does this matter?
The integration significantly impacts the market by addressing a key barrier to crypto adoption: merchant acceptance. By simplifying the payment process and providing instant settlement in stablecoins, it encourages more businesses to accept crypto transactions. This move could stimulate wider usage of cryptocurrencies in everyday commerce, potentially increasing demand and stability in the crypto market.