Bitget announces plan to launch a crypto-backed card

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Bitget, a leading cryptocurrency derivatives and copy trading platform, has announced its ambitious plan to launch the Bitget Card. The announcement was made during the Future Blockchain Summit in Dubai.

The Bitget Card is a premium crypto-backed credit card that aims to serve as a comprehensive crypto payment solution. It is a high-limit, USD-denominated Visa credit card. The company aims for the card to be globally accepted, anticipating its use in up to 180 countries.

Enables users to convert cryptocurrencies to fiat money

Gracy Chen, the Managing Director of Bitget, shared her insights in a keynote speech titled

“Top Crypto Opportunities in Q4 2023 and Beyond” at the summit. She noted that the Bitget Card will allow users to convert cryptocurrencies to fiat money, enabling them to transact with merchants accepting traditional credit or debit cards.

The card will fully integrate with Bitget’s trading platform, offering direct access to users’ accounts and digital wallets for enhanced asset management. Additional features include cashback rewards on eligible purchases, competitive foreign exchange rates for international transactions, and robust security measures to guard against fraud.

Redefining crypto trading

Chen also emphasized the collaborative potential between Web3 and AI technologies, dispelling the notion of them being competitors. This aligns with Bitget’s “Trade Smarter” philosophy and its recent rebranding initiative. With a range of AI-powered tools and features in development, Bitget aims to redefine crypto trading, offering its user base an intuitive, secure, and efficient financial future.

This move by Bitget is seen as a strategic extension into the Middle East earlier this year. The Future Blockchain Summit is the premier event in the MENA region dedicated to blockchain, Web 3.0, crypto, NFTs, metaverse, and gaming.

The launch of the Bitget Card represents a significant step forward in facilitating global crypto payments. It underscores Bitget’s commitment to providing innovative solutions that meet the evolving needs of its users while navigating the complex landscape of global financial regulations.

Author: Chinedu Peter

Chinedu Peter is a medical student who loves writing and hopes to take his writing skills to the next level by constantly creating content revolving around cryptocurrency, blockchain, technology innovations, etc.