Bitget Wallet, a non-custodial cryptocurrency wallet, has partnered with MoonPay to introduce fiat withdrawal functionality. This partnership allows Bitget Wallet users to convert stablecoins like USDT and USDC into more than 25 major fiat currencies.

Enhancing Withdrawal Options

Through the Sell Crypto page in Bitget Wallet, customers from eligible countries can select their token and desired fiat currency before completing the transaction via MoonPay’s platform. The process involves identity verification and choosing a withdrawal method through MoonPay, which facilitates both crypto-to-fiat conversion and fund settlement.

Bitget Wallet supports several payout options, including Apple Pay and debit or credit cards from Visa and Mastercard. After approval, funds are deposited directly into the chosen payment method.

Regulatory Compliance

MoonPay provides the necessary regulated payment infrastructure for Bitget Wallet’s new service. MoonPay is registered as a Virtual Asset Service Provider (VASP) in the EU and a Money Services Business (MSB) in the US, ensuring compliance with regulatory standards.

All transactions through MoonPay undergo identity verification and anti-money laundering checks. Most fiat withdrawals are processed efficiently based on the payment method selected by the user. Customers can monitor their transactions within Bitget Wallet and receive real-time updates via email.

Completing the Asset Management Cycle

By adding fiat withdrawal functionality, Bitget Wallet enhances its service offerings to support users’ full crypto asset management cycle. This includes buying, using, and selling cryptocurrencies within a single platform. Users can also purchase crypto through Bitget Wallet and use it via the in-app Shop section, crypto card, or QR code-based Pay feature. The new sell function enables direct withdrawals to supported payment methods for those choosing to convert their crypto into fiat.

Commenting on this launch, representatives from Bitget Wallet stated that this move advances their company’s Crypto for Everyone vision by simplifying the entry, utilization, and exit of cryptocurrency while maintaining users’ control over their assets.