Bitget Announces Strategic Partnership with Swiss-based Fiat24 to Enhance $BGB Token Adoption

by

As a seasoned analyst with over two decades of experience in the financial markets, I find this partnership between Bitget and Fiat24 intriguing, especially considering the rapid growth and evolution of cryptocurrencies and blockchain technology.

The leading cryptocurrency exchange, Bitget ($BGB), with over 45 million users worldwide, has entered into a strategic alliance with Fiat24, a Swiss financial service. This partnership aims to broaden the application of cryptocurrencies in more than 65 countries, including Bitget’s own token, BGB, as well as Ethereum and stablecoins.

Through our partnership with Bitget, we’re bridging the divide between conventional and decentralized financial systems, as a well-governed payment solution. Furthermore, Fiat24 has maintained a lasting alliance with Mastercard, empowering our users to make international transactions using their debit card.

In the past few months, the Bitget cryptocurrency exchange has been placing more emphasis on developing PayFi services using their expanding BGB token. They’ve already introduced numerous products to boost these PayFi services, such as the Bitget Pay and Bitget Card. These tools facilitate quick crypto transactions at a minimal cost for all users.

Gracy Chen, CEO of Bitget, expressed enthusiasm about partnering with Fiat24 for the development of cryptocurrency transactions and the facilitation of financial services for people globally, particularly those without bank accounts. PayFi will be an essential part of Bitget and BGB’s long-term plans and a significant method to increase the practical applications of cryptocurrencies in everyday life. Alongside our partners, we aim to create a future where crypto payments are widely adopted.

Market Impact of the Collaboration between Bitget and Fiat24

In recent times, the widespread use of digital assets has been significantly boosted due to the establishment of clear regulatory guidelines in various regions, spearheaded by the European Union via the MiCA Act. Bitget, with its ambitious goals, is eager to expand its global reach and challenge other leading cryptocurrency exchanges that target the same market.

Consequently, the Bitget team has been dedicated to developing the $BGB ERC-20 token into a globally recognized standard with robust liquidity.

As a crypto investor, I’ve found myself tracking an intriguing mid-cap altcoin lately, valued at approximately $7.9 billion on a fully diluted basis. This digital asset sees a 24-hour average trading volume of roughly $567 million. Lately, it seems to be in the process of determining its price direction, which I find quite exciting.

Based on recent market figures, the British Pound‘s (BGB) value surged more than double (200%) within the past four weeks, reaching approximately $4 during the initial trading hours in New York on Friday.

Conversely, the BGB token experienced a significant decrease of more than 13% within the past 24 hours, due to the ongoing cryptocurrency sell-off that followed Bitcoin falling below $94K. From a technical perspective, the BGB token has been in an extended bull market since entering its price discovery phase earlier this year and is expected to recover soon.

In other words, as there’s an increase in on-chain transactions, the Fiat24 token (F24) will experience significant advantages. This increased activity often leads to more tokens being destroyed (burned). Notably, the F24 token is primarily used for purchasing high-end NFTs.

Read More

2024-12-20 18:33