Bitget Wallet Launches Crypto Bank Transfer Function in Nigeria (

Financial app Bitget Wallet has launched a bank transfer function in Nigeria, allowing users to instantly exchange stablecoins (USDT and USDC) for Nigerian Naira and transfer the funds directly to local bank accounts.

* In a statement released Tuesday, the company said the function enables users to pay merchants, send money to friends and family, or pay bills directly from their wallets.

* This launch marks the first time the global cryptocurrency wallet has enabled large-scale direct transfers of stablecoins to bank accounts in these regions, making cryptocurrency use more convenient in everyday life. The bank transfer function also eliminates the need for peer-to-peer platforms or centralized exchanges.

Jamie Elkaleh, Chief Marketing Officer of Bitget Wallet, commented on the new feature: “Stablecoins are rapidly becoming a new everyday payment method in emerging markets. Integration with local banking systems is the next step in this development. Nigeria and Mexico together handle over $160 billion in on-chain transactions annually. Directly integrating stablecoin payments into their banking systems makes it easier and more convenient for users to manage their stablecoins, increasingly aligning with today’s payment habits. This new feature, which will be rolled out to more emerging markets in the coming months, complements Bitget Wallet’s existing payment options, including crypto cards, QR code payments, and an in-app lifestyle store. This allows global users to pay for shopping, rent, remittances, and everyday expenses locally. To celebrate this launch, Bitget Wallet will be offering a fee-free promotion.”

Elkaleh explained that by connecting crypto payments with traditional banking services, Bitget Wallet achieves seamless integration between on-chain assets and real-world consumption.

This new feature, which will be rolled out to more emerging markets in the coming months, complements Bitget Wallet’s existing payment options, including crypto cards, QR code payments, and an in-app lifestyle store.

“This launch comes at a time when stablecoins are playing an increasingly important role in emerging market financial systems. Faced with inflation and currency volatility, cryptocurrencies are increasingly being used in these markets to store, transfer, and consume value,” he said.

According to Chainalysis data, Nigeria remains Africa’s largest cryptocurrency market, contributing the majority of the region’s on-chain transaction activity, with annual transaction volume exceeding $90 billion. In Latin America, Mexico’s on-chain transaction volume exceeds $70 billion.

* “This feature aims to address a long-standing challenge in these markets where converting cryptocurrencies into usable local currencies is often slow, risky, and costly. In Nigeria, users typically rely on P2P platforms that are subject to liquidity constraints and exchange rate volatility, while in Mexico, limited infrastructure and regulatory hurdles restrict user access to cryptocurrencies.” He concluded, “Bitget Wallet’s bank transfer functionality automates the process, reduces risk, and allows for instant and legally compliant transfers with just one click.”