Bitget Wallet has officially launched its Onchain Payments Matrix, a comprehensive infrastructure designed to bridge stablecoins with both traditional and blockchain-based financial networks. Announced on Wednesday, the system integrates with major payment processors and blockchain firms including Ripple, Mastercard, Visa, Tether, Circle, and MoonPay.
The infrastructure aims to connect Bitget Wallet's claimed over 90 million global users with more than 150 million merchants across 50 markets. It functions as an underlying layer linking issuers, banks, card networks, liquidity providers, and merchants to streamline stablecoin payments for consumer, cross-border, and emerging applications like AI agent commerce.
A key differentiator is its operational focus. Unlike pilot programs or institutional settlement layers, the Onchain Payments Matrix operates directly at the user and merchant interface. This allows stablecoins to be used directly at checkout points, not just for backend settlement. The system also supports QR code payments at over 2.5 million merchants in Asia and Latin America and facilitates cross-border bank transfers through connections with more than 300 financial institutions.
Bitget Wallet states the network is built for scale, capable of handling over 155 million transactions and has already processed more than $177 billion in volume. The launch addresses what Bitget Wallet COO Alvin Kan calls the "main bottleneck" of coordination, aiming to aggregate fragmented payment rails and abstract blockchain complexity for users.
The move comes amid surging stablecoin adoption. Bitget Wallet cited data showing annual global stablecoin transaction volume exceeding $33 trillion, with spending via crypto-linked cards growing 525% year-over-year. The total stablecoin supply currently stands at nearly $299 billion, dominated by Tether's USDT ($184B) and Circle's USDC ($80B).
