Bitget Wallet has rolled out a feature that gives users their own USD and EUR account numbers, letting them receive traditional bank transfers and have the money converted to stablecoins automatically. The feature, called Virtual Account, runs through licensed partner Noah and sits inside the company's self-custodial wallet.
Deposits made via ACH, Fedwire, SEPA, or SWIFT are converted to USDT or USDC on arrival. Bitget Wallet says it serves 100 million users.
How the Virtual Account works
Users get individual account numbers denominated in dollars or euros. Those numbers can accept incoming transfers from the conventional banking system — ACH and Fedwire for dollar payments, SEPA and SWIFT for euro payments — without the user opening a separate bank account or moving funds manually between platforms.
The conversion to USDT or USDC happens when the deposit lands, according to the company. That means the balance a user sees in the wallet is a stablecoin balance rather than a fiat balance, even though the money entered through a bank rail.
Noah, the licensed partner, handles the fiat side. Bitget Wallet did not disclose the licensing jurisdiction or the fee structure for the virtual accounts in the details it released.
A self-custodial wallet with a bank-facing door
The unusual part is where the account lives. A self-custodial wallet keeps keys with the user rather than a custodian, which normally makes it awkward to connect to bank transfers that require an account holder and a regulated intermediary. Bitget Wallet's solution is to put the account number inside the wallet interface while the regulated partner processes the money.
That setup raises a question the company hasn't answered publicly: what happens to a deposit in the window between the bank transfer landing with Noah and the stablecoin arriving in the user's wallet. The funds are briefly held by the partner, not the user.
It's also not clear whether the virtual accounts are available in every market where the wallet operates, or whether US users face restrictions. The company's announcement didn't list country availability, minimum deposit sizes, or conversion spreads.
The 100 million user number
Bitget Wallet cites a user base of 100 million. That figure hasn't been independently verified, and it's worth treating wallet counts carefully — the number can include one-time users and multiple addresses per person. Still, it's the scale the company is pitching to partners and, presumably, to Noah.
Stablecoin conversion at the deposit stage is a familiar pattern in crypto apps, but routing it through named bank rails like Fedwire and SEPA inside a self-custodial product is a narrower offering. Most wallets ask users to buy stablecoins on an exchange or through a card processor; bank transfer directly into a wallet is less common because of the compliance work involved.
What to watch for
The next concrete detail will be fees and limits. Bitget Wallet hasn't published the cost of receiving a wire or a SEPA transfer, the minimum and maximum deposit amounts, or the exchange rate applied when dollars or euros become USDT or USDC. Those numbers determine whether the feature is cheaper than using a bank plus an exchange.
There's also the compliance question. Noah's license and the jurisdictions it covers will decide who can actually use the virtual accounts. Until Bitget Wallet publishes a country list and a fee schedule, users outside its core markets won't know if the feature applies to them.
The company has not said when the feature will exit its current rollout stage or which currencies it plans to add next.
