Collaboration Announced: Bitget joins forces with Callpay, enabling South African rand transactions
In a significant move to enhance cryptocurrency adoption, several global exchanges have formed partnerships with local payment providers. This trend is echoed in the recent collaboration between Bitget and Callpay in South Africa, as well as Coinbase Wallet's partnership with Onboard and Yellow Card.
Coinbase Wallet's partnership with Onboard allows Nigerian users to purchase cryptocurrencies directly with the naira through Onboard's peer-to-peer marketplace. Similarly, the integration with Yellow Card's payment infrastructure enables African users to buy Bitcoin and USDC seamlessly within the wallet.
One notable example of such partnerships is the Banxa and Ledger collaboration. Banxa, a public crypto payment service provider, partnered with Ledger, a leading hardware wallet provider, to expand payment options globally. This alliance allows Ledger users in markets such as the US, Canada, Europe, and Australia to access Banxa's fiat-to-crypto on-ramps via the Ledger Live app, making it easier and more compliant to purchase crypto through local payment methods.
Binance, another major player, teamed up with Mastercard to enable real-time euro crypto cash-outs across Europe. This partnership allows European Binance users to convert crypto into euros and withdraw funds directly to Mastercard debit cards.
BVNK also collaborates with Worldpay (a major global payment processor) and LianLian Global (a cross-border payments firm) to build on/off ramps that facilitate seamless integration between stablecoins and traditional payment rails. These partnerships help create liquidity and payment orchestration across multiple jurisdictions, making crypto payments more accessible and efficient worldwide.
Nuvei, a payments technology provider, works with many leading crypto exchanges and wallets globally to offer fiat on-ramps and off-ramps, supporting over 100 fiat currencies and 160 cryptocurrencies. Their modular API-based solutions enable local payment acceptance, fast automated KYC, and global payouts without requiring specialized banking setups, helping exchanges reach customers in diverse markets seamlessly.
Gracy Chen, CEO at Bitget, made a statement, acknowledging the growing trend among global crypto exchanges to partner with local payment firms. These collaborations focus on enhancing fiat to crypto conversions, regulatory compliance, and user accessibility in different regions.
In summary, major cryptocurrency exchanges and service providers are actively partnering with established local payment firms—such as Banxa with Ledger, Binance with Mastercard, BVNK with Worldpay and LianLian, and Nuvei with various exchanges—to bridge traditional finance and crypto. These collaborations aim to make cryptocurrencies more accessible and user-friendly for people around the world.
- The collaboration between Coinbase Wallet and Onboard particularly benefits Nigerian users, as it allows them to directly purchase digital assets like Bitcoin and USDC using the naira within the wallet.
- Expanding its reach in Africa, the integration of Coinbase Wallet with Yellow Card's payment infrastructure ensures seamless Bitcoin and USDC buying for users across the continent.
- As Gracy Chen, CEO of Bitget, noted, these partnerships between major crypto exchanges and local payment providers, such as Binance with Mastercard and Nuvei with various exchanges, are crucial in bridging the gap between traditional finance and cryptocurrency, making digital assets more accessible worldwide, especially in markets like Nigeria and Africa.
