Bitget Wallet Launches First Fiat Withdrawal Option via MoonPay Partnership
Cointelegraph reports that Bitget Wallet launched its first fiat withdrawal option through a partnership with crypto payment platform MoonPay. The self-custodial wallet now allows users to convert stablecoins directly into 25 fiat currencies without using centralized exchanges.
The new off-ramp service supports major stablecoins including Tether USDt and USDC. Users can withdraw funds in US dollars, euros, British pounds, Swiss francs, Australian dollars and other currencies. Variable fees typically range from 3% to 4% of the transaction amount, including processing fees and foreign exchange costs.
Bitget Wallet's chief market officer Jamie Elkaleh told the publication that users previously transferred assets to centralized exchanges like Bitget Exchange for fiat conversion. The minimum withdrawal amount is approximately $20 USD equivalent, set by MoonPay's transaction requirements. This represents the wallet's first off-ramp feature since its official launch under the Bitget brand in 2023.
Why This Development Matters
The launch addresses growing user demand for simplified asset management without relying on centralized exchanges. Industry data shows a 22% decline in spot trading on centralized exchanges during the second quarter of 2025, according to TokenInsight reports referenced in the announcement.
MoonPay has been integrated as one of Bitget Wallet's crypto purchase providers since 2023, allowing users to buy crypto via cards and Apple Pay. The fiat withdrawal feature expands this existing partnership to cover both purchase and sell functions within the app. Users can now complete full-cycle asset management within a decentralized network environment.
We recently reported that Cregis unveiled its next-generation Payment Engine at Money20/20 Asia 2025, transforming Web3 technologies into actionable enterprise capabilities. This trend toward integrated payment solutions reflects the broader industry evolution beyond simple storage functions.
Industry Implications for Crypto Payment Landscape
This development reflects the broader transformation of crypto wallets into comprehensive financial service platforms. Mastercard and MoonPay announced a major partnership in May 2025 to enable stablecoin payments at more than 150 million merchant locations worldwide.
The collaboration positions MoonPay to leverage its extensive network of over 500 crypto platform integrations, reaching more than 100 million active crypto users. Around 20 million crypto wallets globally make monthly stablecoin transactions, with 120 million holding stablecoin balances, demonstrating substantial demand for accessible spending solutions.
Top crypto off-ramp platforms in 2025 now emphasize security measures like two-factor authentication and competitive pricing to retain users. Traditional financial institutions are increasingly recognizing the importance of seamless on-ramp and off-ramp services for mainstream cryptocurrency adoption.
The expansion of wallet-integrated payment solutions challenges traditional exchange-centric models. Users gain more control over their assets while accessing the same conversion capabilities previously available only through centralized platforms. This shift aligns with the decentralized finance movement's goal of reducing reliance on intermediary institutions for basic financial services.
