Strategic Partnership Between Bitget and Fiat24: Advancing the Adoption of Digital Assets
Overview of the Collaboration
Bitget, a leading cryptocurrency exchange with over 45 million registered users globally, has announced a strategic partnership with Swiss-based Fiat24. This collaboration aims to enhance the regulated adoption of digital assets through innovative PayFi services. The partnership is set to expand the use cases of cryptocurrencies, particularly the BGB token, Ethereum (ETH), and stablecoins, across more than 65 countries.
Fiat24 is recognized for its highly regulated payment solutions, which will effectively bridge the gap between traditional finance and decentralized financial ecosystems. Additionally, Fiat24’s long-standing collaboration with Mastercard enables users to make global payments using its debit card, further enhancing the accessibility of digital assets.
Enhancing PayFi Services
In recent months, Bitget has focused on developing its PayFi services, leveraging the growing popularity of the BGB token. The exchange has launched several products to improve these services, including Bitget Pay and Bitget Card, which facilitate fast cryptocurrency payments at minimal fees. Gracy Chen, CEO of Bitget, expressed enthusiasm about the partnership, stating, “We are excited to collaborate with Fiat24 to advance crypto payments and simplify access to financial services for users worldwide, especially the unbanked. PayFi will be one of Bitget and BGB’s long-term strategies and a key approach to enhancing the real-world impact of crypto assets. Together with our partners, we envision a future where crypto payments become the norm.”
Market Impact of the Collaboration
The recent acceleration of mainstream digital asset adoption has been driven by clear regulatory frameworks established in various jurisdictions, particularly the European Union’s MiCA Act. Bitget aims to enhance its global influence and compete with other top-tier cryptocurrency exchanges targeting the same market.
To achieve this, the Bitget team is focused on growing the BGB ERC-20 token to meet global standards, ensuring deep liquidity. Currently, the mid-cap altcoin has a fully diluted valuation of approximately \7.9 billion and an average trading volume of around $567 million over the past 24 hours. Recently, the BGB price surged over 200% in four weeks, trading around $4 during the early New York session. However, the token experienced a decline of over 13% in the last 24 hours due to a broader crypto sell-off triggered by Bitcoin’s drop below $94,000. Despite this, technical analysis suggests that the BGB token is in a macro bull run and is likely to rebound soon.
Meanwhile, the Fiat24 native token, F24, is expected to benefit significantly from increased on-chain activities, leading to more token burns. The F24 token is primarily used for purchasing premium NFTs, further integrating it into the digital asset ecosystem.
