Crypto exchange Bitget on Tuesday announced a partnership with payment solutions provider OnRamp to streamline the conversion of fiat money into cryptocurrencies.
Through the partnership, Indian users can now use United Payments Interface (UPI) and Immediate Payment Service (IMPS) for INR deposits. Users in Nigeria, United Arab Emirates, and Mexico can deposit NGN, AED, and MXN respectively through bank transfers.
Additionally, Vietnamese users can use VietQR, a mobile QR code payment system, for VND deposits.
This breadth of supported currencies grants users convenient mechanisms for converting between crypto and fiat currencies.
Notably, Bitget is extending a zero-fee offer for all cryptocurrencies in conjunction with the integration. This move complements its existing policy of eliminating fees for Bitcoin (BTC) and Ethereum (ETH) transactions processed within its platform.
Bitget Targets Emerging Markets with OnRamp Partnership
Bitget’s collaboration with OnRamp will allow users to acquire cryptocurrencies through familiar banking channels, eliminating any associated fees.
OnRamp offers compatibility with over 20 blockchain networks, including Ethereum, Arbitrum, Avalanche, and Solana. It is recognized for its developer-centric philosophy, providing customizable solutions that cater to specific user requirements.
The provider prioritizes accessibility in emerging markets, streamlining the onboarding process for new users. This focus is particularly evident in regions like India, where it has integrated popular services like UPI and IMPS. These integrations effectively minimize transaction failure rates, thereby enhancing user accessibility.
Bitget Gears Up for Mass Crypto Adoption
“The integration is a step closer to our mission to drive mass adoption of crypto, making it easy for people around the world to trade crypto,” Gracy Chen, Managing Director at Bitget, said in a statement. “By smoothing out the conversion process between crypto and fiat we’re accelerating an inclusive and global financial revolution.”
In December, Bitget experienced a substantial increase in new user registrations, exceeding the total number of registrations recorded in Dec. 2022 by 20%. The exchange further disclosed that 89% of these new users opted to enter the crypto market, with a substantial majority, representing 61%, choosing to invest specifically in Bitcoin.
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