Bitget Wallet has become the first digital wallet to integrate with Paydify, enabling users to make stablecoin payments at select physical and online merchants. This strategic partnership aims to bridge the gap between cryptocurrency and mainstream payment systems, making digital asset payments more accessible and practical for everyday transactions.

Bitget Wallet and Paydify Partnership: What It Means

The non-custodial crypto wallet has partnered with Paydify, a cryptocurrency payment service provider, to facilitate stablecoin payments. This integration allows users to pay with stablecoins like Tether (USDT) and USD Coin (USDC) at participating merchants.

Merchants benefit from instant settlement in stablecoins without the need to create accounts on separate crypto exchanges or even on Bitget itself. During its testing phase, this integration successfully processed thousands of transactions, showcasing its potential for scalability and ease of use.

Expanding Stablecoin Payments Across Industries

The partnership has ambitious plans to onboard over 10,000 merchants globally across various industries, including retail, travel, hospitality, gaming, and e-commerce. As the network of merchants expands, Paydify intends to support additional tokens and enhance compatibility with other wallets. The ultimate goal is to enable payments using any token on any blockchain network, making cryptocurrency payments as seamless as traditional methods.

Key Benefits for Users and Merchants

  • Instant Settlement: Merchants receive payments instantly in stablecoins, reducing financial delays.
  • No Additional Accounts: Merchants are not required to create accounts on crypto exchanges or wallets.
  • Global Reach: Plans to onboard thousands of merchants worldwide will increase user accessibility.
  • Broader Token Support: Future updates will include compatibility with more tokens and blockchains.

Driving Crypto Adoption Through Stablecoin Payments

This partnership aligns with Bitget Wallet’s broader strategy to transform cryptocurrency from a store of value to a practical financial tool for everyday payments. By addressing barriers to adoption, such as limited merchant acceptance, Bitget and Paydify aim to make crypto payments more mainstream and user-friendly.

Alvin Kan, COO of Bitget Wallet, emphasized the significance of this partnership, stating:

“Our goal is to make crypto more usable for everyday needs, and Paydify helps reduce the complexity merchants face. By integrating an open payment layer, we’re moving closer to this goal.”

According to a recent report from Bitget, 31% of global users identified limited merchant acceptance as a key obstacle to using cryptocurrency. This integration directly addresses this challenge, paving the way for broader adoption.

Paydify’s Vision for Seamless Crypto Payments

Pakning Luk, Director of Strategy at Paydify, highlighted the platform’s mission to simplify crypto payments for both users and businesses. He noted:

“We believe crypto should work as easily as any mainstream payment method. Our aim is to offer a seamless and reliable framework for digital asset payments that meets the needs of both users and businesses.”

By minimizing onboarding complexities and offering instant settlement, Paydify aims to create a user-friendly ecosystem where digital payments can thrive. This effort is expected to accelerate the adoption of cryptocurrency as a viable payment method.

Final Thoughts

The integration of Bitget Wallet with Paydify is a significant step toward normalizing cryptocurrency payments in everyday life. With plans to expand merchant networks and token compatibility, this partnership is set to make stablecoin payments an integral part of industries worldwide. By addressing the challenges of limited acceptance and onboarding complexities, Bitget and Paydify are paving the way for a more inclusive and accessible cryptocurrency payment ecosystem.

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