In a significant move to enhance financial accessibility, Bitget Wallet has launched its Bank Transfer feature in Bangladesh, allowing users to convert stablecoins into Bangladeshi Taka (BDT) and transfer funds to popular mobile financial services such as bKash and Nagad. This innovation, facilitated through partnerships with strategic licensee partners, enables users to efficiently manage their onchain assets, bridging the gap between cryptocurrency and everyday financial transactions.
The new feature permits conversions of widely-used stablecoins, such as USDT and USDC, into local currency, directly facilitating transfers to mobile money accounts. This expansion aligns with the growing reliance on mobile financial services in Bangladesh, which boasts an impressive 238 million accounts in a population of approximately 174 million. Daily transaction volumes in this sector exceed $260 million, highlighting the robust demand for digital and mobile financial solutions.
Alvin Kan, COO of Bitget Wallet, emphasized the importance of mobile-first financial services in regions like Bangladesh, stating, “By connecting stablecoins with widely used platforms such as bKash and Nagad, we are making it easier for users to move between onchain assets and local payment systems, helping digital assets function more naturally within everyday financial activity.”
The integration addresses several common use cases, such as sending money to friends and family, cashing out earnings from stablecoins, and converting crypto holdings for daily expenses. Traditionally, users in emerging markets often relied on peer-to-peer marketplaces for converting crypto into local currency, which posed risks such as inconsistent pricing and counterparty issues. With Bitget Wallet’s integrated payout channels, users can now convert their stablecoins to local funds more directly, eliminating the need for manual matching or intermediaries.
This launch is part of a broader trend towards mobile-first finance and the increasing use of stablecoins globally. Bangladesh stands at the forefront, ranking 14th in the Global Crypto Adoption Index, largely attributed to retail payment applications and the growing demand for value preservation. Current estimations indicate that stablecoins represent approximately 30% of global on-chain transaction volume, underscoring their expanding role in practical financial scenarios like remittances and cross-border payments.
The rollout in Bangladesh follows previous Bank Transfer integrations in Nigeria and Mexico, reflecting Bitget Wallet’s strategy to build a global PayFi network that connects digital assets with local financial systems. This initiative aims to expand the real-world utility of cryptocurrencies across emerging markets, further integrating them into daily financial activities.
Bitget Wallet, designed for everyday financial interactions, serves over 90 million users globally, offering a comprehensive platform for sending, spending, earning, and trading crypto and stablecoins. Employing blockchain-based infrastructure, the app promotes faster, borderless finance supported by advanced security measures, including a user protection fund of $300 million. Bitget Wallet functions as a self-custodial wallet, ensuring users maintain full control of their funds, private keys, and data.
For additional information about Bitget Wallet, users can explore the app’s official channels across various platforms.
