Bitget Wallet Crossed 100 Million Users, Much of It From Emerging Markets

From speculation to spending

Alvin Kan says that five years ago everyone would have named speculative trading as crypto's main use case, but today it is mostly payments and everyday finance. He says that over the last two years users holding stablecoins began asking how to spend them, which is when Bitget Wallet started building global payment rails.

Local rails, region by region

Kan says much of Bitget Wallet's growth is coming from South Asia, Southeast Asia, Latin America and Africa. In Southeast Asia and Latin America, where QR payments are big, users can scan a grocery store's QR code and pay with a stablecoin. In Africa, he says, many stores take neither QR nor card payments but bank transfers, so users type in the merchant's account number and the crypto arrives as fiat. In Pakistan and other South Asian countries, users move crypto into dominant local e-wallets to off-ramp.

Small swipes, first cards

According to Alvin Kan, users swipe their cards about 10 to 15 times a month, spending about $10 to $13 per transaction, while some other crypto cards he has seen average over $700. For many emerging-market users, he says, the Bitget Wallet card was their first Visa or Mastercard, and after a few months of using it they started buying US stocks.

Trade where you bank

Kan says trading liquidity has rotated from meme coins to perps to RWAs, and in recent months to tokenized stocks. His view is that people may not bank where they trade but will trade where they bank. Because capital is most efficient in one place, he expects neobanks and trading apps alike to converge into super apps.

On the infrastructure side, Bitget Wallet rebranded its trading product as Bitget WalletX. Kan says the Bitget bridge has processed $1.95 billion in swap volume across almost a million orders.