Bitget Wallet, a leading non-custodial wallet from Web3, has announced its 2025 payment finance (PayFi) strategy to bring real-world payments to the blockchain, according to reports shared with Finbold on Monday, January 27.
As cryptocurrency payments and decentralized finance (DeFi) have gone mainstream, PayFi aims to redefine how individuals handle their finances and transform crypto into a viable, everyday financial asset.
Bitget’s PayFi plans
Designed to help users earn, send and spend their money within one ecosystem, PayFi maximizes the utility of and simplifies financial transactions.
At the heart of Bitget’s strategy is the PayFi Flywheel, a new feature designed to transform crypto wallets from passive storage tools into their own active financial ecosystems.
The Flywheel allows users to deposit assets such as stablecoins into flexible savings accounts with real-time returns.
In turn, they can use these revenues to cover expenses such as shopping and subscription payments, with a ‘buy now, pay never’ model allowing the revenue generated by DeFi to cover some of the costs.
Alvin Kan, Chief Operating Officer (COO) of Bitget Wallet, also mentioned the growing demand for such DeFi solutions in underbanked and remote areas, and further commented on the platform’s underlying mission:
“We have seen exceptional growth in some regions, driven by high inflation and limited access to banks. In Africa alone, user numbers grew by more than 1,000% last year, with similar trends in the Middle East and Latin America. These figures underline the rising demand for decentralized solutions, and with PayFi we want to provide underserved regions with accessible financial instruments.”
– Alvin Kan, Chief Operating Officer (COO) of Bitget Wallet
Bitget Wallet card
Another centerpiece of the strategy is the Bitget Wallet Card, a Mastercard-backed crypto card linked to a multi-currency international bank account.
The card will facilitate global transactions and Bitget promises competitive exchange rates.
In addition, Bitget Wallet is working on an in-app shopping ecosystem in collaboration with companies such as Triple A, Bitrefill, IvendPay, PundiX and Coinpal.
The ecosystem will enable users to use crypto for everyday transactions, whether on e-commerce platforms or in-store (via QR codes and blockchain-powered Point-of-Sale (PoS) systems).
Finally, Bitget Wallet plans to offer users more flexible yield options and make Peer-to-Peer (P2P) transfers more accessible for both daily payments and global transfers.
