Bitget Wallet Has Quietly Changed

Author: TechFlow

“One of our colleagues was paying the bill at a restaurant in Da Nang and started talking with the server about crypto payments. The server said that Russians and Europeans often use stablecoins to pay by scanning a QR code. When asked whether she knew Bitget Wallet, she said she was using it.”

What was even more surprising was that the server had previously worked in affiliate business development for a Web3 payments company called Pay with Crypto. According to her, the company later shut down due to regulatory reasons, so she became a restaurant cashier.

“A really interesting experience—you would never have guessed she was a cashier,” Bitget Wallet COO Alvin Kan told TechFlow.

Compared with the grand narrative of crypto payments, the experience of this server in Da Nang may better illustrate some changes. Crypto does not always happen on exchanges, at industry conferences, or in Web3 communities; it can really appear at the cash register of an ordinary restaurant.

Over the past two years, Bitget Wallet has gradually expanded into crypto cards, QR-code payments, bank transfers, and tokenized stocks. Recently, a new feature for receiving bank transfers launched, quietly revealing another side of a wallet once known for on-chain transactions.

From Wallet to Account

“For most people, opening a USD or EUR account is almost impossible; it usually requires meeting complex identity, address, and compliance requirements,” Alvin said when discussing the recently launched USD/EUR Virtual Account.

“But USD income is no longer confined to the United States. More and more freelancers, remote workers, and cross-border businesses need to receive USD payments from overseas clients.”

The new Bitget Wallet feature differs from the services offered by traditional crypto wallets. By partnering with Noah, a stablecoin payment infrastructure company, users can receive bank transfer details. USD accounts support ACH, Fedwire, and SWIFT; EUR accounts support SEPA. After funds arrive, they are converted into stablecoins and enter the user’s self-custody wallet.

The payer does not need to hold crypto assets or understand the blockchain, and can still transfer funds through familiar banking channels. The recipient receives USD stablecoins directly in Bitget Wallet.

Bitget Wallet is not the first product to try to lower the barriers to cross-border collections. Platforms such as Wise and Payoneer have already built mature receiving services around this need. What sets it apart is that it connects bank payments and collections directly to stablecoin wallets: for users who want to hold or move income in stablecoins, this reduces the intermediate step of transferring funds between traditional receiving platforms and crypto wallets.

Cross-Border Finance Behind a Letter Home

“A while ago I watched ‘Love Letter to Grandma’, which tells how Chaoshan people once made a living in Southeast Asia and sent letters and money back to their families through a system called qiaopi.”

Talking about the film, Alvin thought of the demand for cross-border remittances that still exists around the world today.

“When we discuss cross-border remittances today, we focus more on fees and settlement speed. But for many people, that money may be their family’s living expenses or their children’s tuition—it is what they most want to send home after working hard in a foreign country.”

More than a century later, the ways people earn a living across borders keep changing, but the need to send money to family remains.

A report released in 2026 by the International Fund for Agricultural Development (IFAD) shows that about 220 million migrants and diaspora members worldwide provide financial support to 1.1 billion relatives. In 2025 alone, cross-border remittances flowing into low- and middle-income countries reached USD 728.6 billion.

Alvin mentioned that an Argentine working in New York needs to send money home to their family regularly. The salary is paid in USD, but their family must cover daily expenses in pesos and may also want to keep part of their savings in USD. A single income often has to pass through different financial institutions and currency exchange channels to meet living needs in two countries.

The internet has created new forms of earning a living across borders.

“There is another group that doesn’t even need to work abroad,” Alvin continued, “for example, a designer living in Buenos Aires who provides remote services to a U.S. tech company and receives a salary in USD every month. She has never lived in the United States, yet she needs to solve cross-border payment, dollar savings, and local spending issues.”

Data from global payroll platform Deel shows that in Argentina, contractors receiving payments through the platform choose USD more often than the local currency, and Argentina is also the country with the highest stablecoin payment adoption rate on the platform.

For such remote workers, the value of Virtual Account becomes more concrete: they do not need to ask overseas clients to pay in cryptocurrency; instead, they can receive compensation through familiar bank transfer channels, then convert the funds into stablecoins to hold or transfer.

From remittance letters of overseas Chinese in the Nanyang region, to remittances by overseas workers today, to dollar income of remote workers, cross-border finance has always been closely tied to ordinary people’s livelihoods, families, and lives. And these people who may not be familiar with Crypto are also becoming new users that Bitget Wallet hopes to serve.

The boundaries of crypto, and Bitget Wallet’s ambition

The launch of virtual accounts also gave a clearer thread to Bitget Wallet’s product expansion over the past two years.

Virtual Account adds a bank receiving channel, Card and QR Pay connect crypto assets in the wallet to real-world consumption, and RWA products such as Reality further expand investment scenarios for global assets. Bank receiving, everyday payments, and asset investing are beginning to appear in the same wallet.

But taken together, Bitget Wallet can no longer easily be defined as a traditional “crypto wallet.”

For a long time, competition among crypto wallets has mainly taken place on-chain: how many public chains are supported, whether better trading quotes can be provided, how fast transactions are, and whether the latest alpha can be captured have formed key competitive advantages for wallet products.

Bitget Wallet continues to build this capability, but as its business extends into cross-border payments, consumer payments, and global asset investing, its competitors have also expanded from MetaMask and Phantom to fintech companies such as Wise, Payoneer, and Revolut.

Interestingly, when Bitget Wallet tries to bring bank receiving channels into crypto wallets, traditional financial institutions are also exploring in the opposite direction.

In October, Western Union, with a history of more than 170 years, announced a partnership with stablecoin payment infrastructure company Noah, planning to allow users to receive cross-border remittances via stablecoins. Coincidentally, Noah is also a partner for Bitget Wallet’s virtual account. A legacy remittance company is beginning to embrace stablecoins, while a crypto wallet is trying to connect to traditional banking networks. They started from different directions, yet met at the same infrastructure provider.

According to disclosures by Bitget Wallet in July this year, its global user base surpassed 100 million, and daily paying users exceeded daily trading users for the first time. For a wallet whose primary use case has long been on-chain trading, this is a notable signal: users may no longer open the wallet only to trade crypto assets.

But moving from on-chain trading to everyday finance requires more than just adding a few product features. Cross-border finance involves different countries’ banking systems, payment networks, stablecoin issuers, and liquidity providers. What users may want is only a simple payment or receipt, but behind it, multiple financial networks need to be interconnected.

Bitget Wallet’s proposed Onchain Payments Matrix is precisely an attempt to solve this coordination problem. It aims to integrate blockchains, stablecoin issuers, banks, payment institutions, card networks, and local merchant networks into a coordinated network, allowing funds to move between different financial systems.

However, connecting to more financial services does not mean crypto wallets can replace banks. Accounts, clearing, fiat conversion, and local payment access still depend on financial institutions and partners in different regions, and compliance and service coverage remain unavoidable practical constraints.

More importantly, once a wallet begins to handle users' salaries, savings, and everyday spending, the basis of competition also changes. Traders may switch wallets for better quotes or faster execution, but people who rely on it to receive income and pay bills care more about whether funds arrive on time, whether the service is stable, and whether problems can be resolved.

Bitget Wallet has already begun to move beyond the business boundaries of traditional crypto wallets, but transitioning from an on-chain asset management tool to an everyday financial gateway still requires earning a different kind of trust.

Source: TechFlow