Bitget Wallet Ditches the Middleman for Fiat Withdrawals! 🎉💰

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In a refreshingly audacious move, the Bitget Wallet—self-declared guardian of your precious crypto—has teamed up with MoonPay to unveil its inaugural foray into the realm of fiat withdrawals. A veritable revolution, or perhaps just a fleeting dalliance in the crypto soup kitchen?

As announced on an unsuspecting Tuesday, this newfound partnership allows users to transform their stablecoin whims into 25 distinct fiat currencies. Yes, you heard that right—convert stablecoins like it’s going out of fashion! 🎩

“Prior to this splendid addition,” chimed Jamie Elkaleh, Chief Market Officer of Bitget Wallet (surely not a czar of puns), “users were oft times relegated to the rather pedestrian task of transferring assets to centralized exchanges or third parties. Boring!”

The exec gleefully declared this launch as a “milestone” in the wallet’s ambition to be more than just a digital vault—after all, who wants to live in the 18th century of asset management when you can prance through the digital flowers of decentralization?

Exclusively for Tether’s Most Loyal Companions

In this spirited escapade, Bitget Wallet has chosen to support the crème de la crème of stablecoins: Tether’s USDt (USDT) and the charmingly named UDSC, a collaborative effort between Circle and Coinbase—because who doesn’t love a good partnership? 😉

The fiat currencies on the menu? Brace yourselves for the likes of US dollars, euros, British pounds, Swiss francs, Australian dollars, and more—all without so much as a nod towards those cumbersome centralized exchanges!

“For now, we’re sticking to USDT and USDC,” mused a MoonPay spokesperson, almost as if suggesting that they might experiment with something outrageous in the near future—perhaps Drachmas or Reichsmarks?

If one were to scan the crystal ball of Bitget Wallet’s ambitions, one might see a growing thirst among users for simplified, self-custodial methods to exit their crypto positions—a desire as powerful as the next Netflix binge. Elkaleh added:

“With more users seeking flexible self-custodial asset management, we’re offering both on-ramp and off-ramp services directly in the app. That’s right, folks! You’re looking at a transactional ecosystem!”

Of course, in the background lurks the specter of market data providers like TokenInsight, reporting a dismal 22% drop in spot trading on centralized exchanges last quarter, as traders find solace from the unwieldy demands of the trading floor.

Fees and Minimums—Oh My!

As Elkaleh explained in a tone befitting a sage: “The fee for this majestic service will waltz around a variable 3-4% of the transaction amount.” Now isn’t that delightful? This sum includes processing fees and FX-related amusements, with rates fluttering like a butterfly at a summer festival.

Now, as for any mandatory minimums to withdraw—fear not! Bitget Wallet has absolved itself of such requirements. However, the ever-watchful MoonPay has imposed a minimum transaction amount, dazzlingly set around $20 USD. O, the modern age!

First Off-Ramp Since the Grand Launch

Mark your calendars, dear reader! Bitget Wallet’s new stablecoin off-ramp is its first since gracing the digital landscape under the Budget Brand in 2023, having previously cavorted under the name BitKeep. The rebranding occurred after Bitget acquired a controlling stake—maybe they wanted a new accessory? 🤷‍♂️

While the introduction of off-ramps may seem like a leisurely stroll two years into existence, it’s worth remembering that previously Bitget Wallet was keen to promote on-ramps with the ever-loyal MoonPay.

“MoonPay has been part of our entertaining investment since 2023,” Elkaleh quipped, possibly eyeing the next endeavor: “The fiat withdrawal feature is simply a capstone of our growing partnership, encompassing both buy and sell functions—what a thrilling conclusion to our saga!”

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2025-07-22 15:02