Bitget Wallet Launches Bank Transfer In Nigeria And Mexico To Connect $160B In Annual Crypto Volume
In Brief
Bitget Wallet has launched a Bank Transfer feature in Nigeria and Mexico, enabling instant USDT and USDC conversions to local currencies and direct bank payments.
Bitget Wallet, a leading everyday finance application, has introduced a Bank Transfer feature in Nigeria and Mexico, enabling users to instantly convert USDT and USDC into naira and peso and send funds directly to local bank accounts. This development allows stablecoins to function as a practical payment method, supporting merchant payments, transfers to friends and family, and bill settlements directly from the wallet. The rollout represents the first large-scale implementation by a global cryptocurrency wallet of direct stablecoin-to-bank transfers in these regions, enhancing the usability of crypto in daily financial activities.
The Bank Transfer feature allows seamless conversion from cryptocurrency to local currency without relying on peer-to-peer platforms or centralized exchanges. The process is designed similarly to a mobile banking app: users select a cryptocurrency, input the amount and recipient bank account, and confirm the transaction. Behind the scenes, Bitget Wallet’s network of licensed partners handles fiat conversion and settlement through regulated payment channels, ensuring compliance, reliability, and near-instant processing. The service supports over 45 banks in Nigeria and more than 35 banks in Mexico, with instant settlement typically completed within minutes. USDT and USDC are supported across BNB Chain, Ethereum, Solana, Tron, and Base networks.
By integrating cryptocurrency payments with traditional banking rails, Bitget Wallet connects on-chain assets with real-world spending. The launch aligns with the growing role of stablecoins in emerging-market finance, where cryptocurrencies are increasingly used to store, transfer, and spend value amid inflation and currency fluctuations. According to Chainalysis, Nigeria remains Africa’s largest cryptocurrency market, representing the majority of on-chain activity in the region with over $90 billion in annual transaction volume. In Latin America, Mexico recorded over $70 billion in on-chain volume during the same period. With Bank Transfers, Bitget Wallet enables users to utilize cryptocurrency as easily as local currency for sending, spending, or saving.
Stablecoins Become New Layer Of Everyday Payments As Bitget Wallet Launches Bank Transfer In Nigeria And Mexico
The feature addresses persistent challenges in these markets, where converting cryptocurrency into usable local currency has traditionally been slow, risky, and expensive. In Nigeria, users often depend on P2P platforms vulnerable to liquidity shortages and exchange-rate volatility, while in Mexico, limited infrastructure and regulatory hurdles restrict access. Bitget Wallet’s Bank Transfer automates the process, reducing risk and enabling compliant, instant one-tap conversions.
“Stablecoins are quickly becoming a new layer of everyday payments in emerging markets, and connecting them to local banking rails is the next step in that evolution,” said Jamie Elkaleh, CMO of Bitget Wallet, in a written statement. “Nigeria and Mexico together process more than $160 billion in annual on-chain volume. Bringing instant stablecoin payments directly into their banking systems makes self-custody more practical, more usable, and increasingly aligned with how people pay today,” he added.
The new feature is planned to extend to other emerging markets in the coming months, enhancing Bitget Wallet’s range of payment solutions, which also includes its crypto card, QR code payments, and in-app lifestyle shop. This expansion allows users to make payments globally using local currencies for shopping, rent, remittances, and daily expenses.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
