Bitget Wallet is expanding the use of digital dollars in Nigeria with a virtual payment card that allows users to spend stablecoins at Visa merchants worldwide, targeting a market where cryptocurrency has become an increasingly important channel for accessing and transferring foreign currency.
The self-custodial crypto wallet launched the Bitget Wallet Card on Tuesday, allowing Nigerians to spend stablecoin balances through Google Pay for online and contactless transactions while earning up to 3 percent cashback on eligible purchases.
The move seeks to extend cryptocurrency beyond savings and international transfers into everyday consumption, as Nigeria’s expanding digital asset market creates opportunities for companies seeking to connect crypto holdings with conventional payment networks.
Nigeria received more than $92.1 billion in cryptocurrency value between July 2024 and June 2025, nearly three times South Africa’s volume, according to blockchain analytics firm Chainalysis, making it Sub-Saharan Africa’s largest crypto market.
Stablecoins, which are digital tokens typically pegged to currencies such as the US dollar, have become particularly significant in the country. An International Monetary Fund paper published in June estimated that Nigeria accounted for about 60 percent of stablecoin inflows into Sub-Saharan Africa since 2019, reflecting their use in managing currency risk and settling overseas transactions.
Bitget’s card allows users to spend stablecoin balances at Visa merchants globally, with rewards paid through its Assetback programme in USDC, Bitcoin, gold or tokenised stocks and exchange-traded funds.
The product arrives as dollar liquidity in Nigeria’s banking system improves after years of foreign exchange shortages that forced lenders to reduce offshore card limits or suspend international transactions between 2023 and 2025.
Olayemi Cardoso, governor of the Central Bank of Nigeria, said in July that diaspora remittances, then exceeding $600 million monthly, were expected to reach about $1 billion a month by the end of 2026.
Despite the improving foreign exchange outlook, stablecoins continue to offer users an alternative means of holding dollar-linked assets and accessing international payment networks.
“Stablecoins are becoming a practical financial tool in markets like Nigeria, but their potential goes well beyond holding or transferring digital dollars,” Alvin Kan, chief operating officer of Bitget Wallet, said.
The next stage, he said, would involve connecting digital assets with income, savings, investments and everyday purchases through a unified financial experience.
Beyond the virtual card, Bitget Wallet offers dollar and euro virtual accounts that receive international bank transfers and convert them into stablecoins, alongside a local transfer service that converts stablecoins into naira for deposits into Nigerian bank accounts.
The expansion comes as Nigeria strengthens oversight of digital assets. The Investments and Securities Act 2025 classifies digital assets as securities under the Securities and Exchange Commission, while the regulator published proposed rules in August covering digital asset operations, custody and markets.
Globally, stablecoin adoption is also drawing increasing attention from financial institutions. Standard Chartered said in October it still expected the stablecoin market to reach $2 trillion, although it pushed the timeline from 2028 to 2030. Stablecoin supply currently stands at about $309 billion.
The bank had previously estimated that as much as $1 trillion could move from emerging-market bank deposits into stablecoins by 2028, reflecting their growing role in cross-border payments and currency protection.
The IMF has cautioned that stablecoins in Nigeria are neither a passing trend nor a complete substitute for traditional finance, highlighting their growing relevance alongside conventional banking services.
To attract users, Bitget Wallet is offering rewards to new customers between November 3 and 13. Eligible participants can earn a guaranteed $2 and up to $20 by completing welcome-offer tasks, while users whose spending through Google Pay or Google Play reaches at least $10 qualify for an additional 2 USDC bonus.
Wasiu Alli is a business, economics cum data journalist with strong expertise covering macro trends, capital markets, government policies, corporate earnings and comparative economics analysis. Alli turns raw data into trends that not only tells compelling stories but nudges investors to make valued and informed decisions. He’s an alumnus of Lagos State University and trained at Lagos Business School. He formerly heads the Companies and Markets desk at BusinessDay where he writes and supervises the production of well researched articles on earnings updates, corporate sectoral comparisons, market intelligence as well as interviews with C-suite executives.
