Bitget Wallet, a self-custodial wallet operated by major cryptocurrency exchange Bitget, introduced its first fiat withdrawal option with crypto payment platform MoonPay.Bitget Wallet has partnered with MoonPay to launch a crypto off-ramp allowing users to convert stablecoins directly into 25 fiat currencies, the companies announced on Tuesday.Before the launch of this fiat withdrawal feature, Bitget Wallet users typically transferred assets to centralized exchanges such as Bitget Exchange or third-party platforms for fiat conversion, Bitget Wallet chief market officer Jamie Elkaleh told Cointelegraph.According to Elkaleh, the launch marks another milestone in the growing trend for wallets to evolve beyond storage, supporting full-cycle asset management within a decentralized network.Off-ramp is exclusive to Tether USDt and UDSCBitget Wallets new off-ramp offering supports major stablecoins, including Tethers USDt (USDT) and UDSC (USDC), a stablecoin created jointly by the public crypto firm Circle and the US crypto exchange Coinbase.The supported fiat currencies include US dollars, euros, British pounds, Swiss francs, Australian dollars and more without relying on centralized exchanges.Regarding the stablecoins, we are starting with USDT and USDC, but will potentially expand to others in the future, a spokesperson for MoonPay told Cointelegraph.The full list of fiat currencies supported by Bitget Wallet through MoonPay.
Source: MoonPayThis launch reflects the growing user demand for simplified, self-custodial methods to exit crypto positions without relying on exchanges, Bitget Wallets Elkaleh said, adding:With more users seeking flexible, self-custodial asset management, offering both onramp and offramp services directly in-app completes Bitget Wallets transactional ecosystem.He also mentioned the broader market context, with industry data providers like TokenInsight reporting a 22% decline in spot trading on centralized exchanges in the second quarter of 2025.Fees and minimum withdrawal amountsAccording to Elkaleh, Bitget Wallets new fiat withdrawal will have a variable fee, typically around 3%-4% of the transaction amount.This includes processing fees and FX-related costs, as the final rate may fluctuate based on currency exchange spreads at the time of transaction, Elkaleh told Cointelegraph.Bitget Wallets off-ramp feature is available in 61 jurisdictions.
Source: Bitget WalletHe said theres no fixed minimum amount for withdrawals by Bitget Wallet, but MoonPay has a minimum transaction set for selected currencies and payment methods.Related: Circle and OKX launch zero-fee USDC conversions to US dollarIn most cases, the minimum is approximately equivalent to $20 USD or local currency equivalent, Elkaleh noted.First off-ramp since Bitget Wallet launch in 2023Bitget Wallets new stablecoin off-ramp, powered by MoonPay, marks its first off-ramp feature since the wallets official launch under the Budget Brand in 2023.Originally known as BitKeep, the wallet had been operating since 2018.
The rebrand to Bitget Wallet followed Bitgets acquisition of a controlling $30 million stake in August 2023.While introducing off-ramps two years after launch, Bitget Wallet was previously offering on-ramps with the same provider.Off-ramp versus on-ramp transactions in crypto.
Source: B2BinPayMoonPay has been integrated as one of the wallets crypto purchase providers since 2023, allowing users to buy crypto via cards and Apple Pay, Elkaleh said.The fiat withdrawal feature marks an expansion of this existing partnership, extending it to cover both buy and sell functions within the app for the first time, he added.Magazine: Outrage as $1.8B DGCX crypto scam ringleader mocks victims: Asia Express