Bitget Wallet Virtual Account Launch
Bitget Wallet will provide users with personal U.S. dollar and euro account numbers within its self‑custodial crypto wallet, a feature named Virtual Account that is slated for announcement later today. The virtual accounts are offered through stablecoin payments firm Noah and support inbound transfers via ACH, Fedwire, SEPA, and SWIFT.
Deposits made to these accounts are automatically converted into the stablecoins USDT or USDC, and the resulting balances can be utilized across the wallet’s ecosystem, including cards, payments, transfers, and investment products. Opening an account is free of charge and does not require the user to hold local residency.
At launch, the virtual accounts are receive‑only; outbound transfers are planned for rollout in the coming months. Bitget targets three primary user groups: cross‑border workers paid by U.S. or European employers, individuals receiving remittances in emerging markets, and users who wish to move money from a traditional bank into stablecoins without transacting on an exchange.
Fee-wise, a $500 ACH transfer is expected to incur approximately $2 in Bitget Wallet fees, a stark contrast to the global average remittance cost of around 6% reported by the World Bank. This pricing underscores a broader industry trend of crypto wallets offering bank‑style account functionalities as stablecoin payments expand.
Bitget Wallet reports a user base exceeding 100 million worldwide, positioning the new virtual account service as a significant addition to its product suite.
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