Bitget Partners with Fiat24 to Expand Cryptocurrency Use in 65 Countries
Bitget ($BGB) cryptocurrency exchange has partnered with Swiss-based Fiat24 to broaden cryptocurrency use cases in over 65 countries, specifically for BGB, Ethereum, and stablecoins. This collaboration aims to bridge traditional and decentralized financial ecosystems through a regulated payment solution.
Fiat24's partnership with Bitget enhances its long-term relationship with Mastercard, enabling global payments via debit cards. Bitget focuses on PayFi services, recently launching products like Bitget Pay and Bitget Card, which facilitate fast crypto payments for users at minimal fees.
Gracy Chen, CEO of Bitget, stated that the collaboration aims to advance crypto payments and improve access to financial services globally, particularly for unbanked individuals. PayFi is positioned as a key strategy to enhance the real-world impact of crypto assets.
Market Impact of the Collaboration between Bitget and Fiat24
The adoption of digital assets has accelerated due to clear regulatory frameworks, particularly from the European Union's MiCA Act. Bitget aims to increase its global presence to compete with other leading cryptocurrency exchanges.
The $BGB ERC-20 token seeks to achieve deep liquidity, currently holding a fully diluted valuation of approximately $7.9 billion and a 24-hour average trading volume of around $567 million. Recently, BGB price increased over 200 percent in four weeks, trading near $4 during early New York hours.
However, BGB token experienced a decline of over 13 percent in the past 24 hours following Bitcoin's drop below $94K. Technically, BGB is in a macro bull run after entering price discovery earlier this year and may rebound soon.
Additionally, the Fiat24 native token F24 is expected to benefit from heightened on-chain activities, resulting in increased token burns. The F24 token is primarily utilized for purchasing premium NFTs.