E80. Will crypto wallets become the next “global Alipay”? 100 million users, payments exceed transactions ft. Bitget Wallet COO Alvin

Original author：Day1Global生而全球

Original source：https://www.youtube.com/embed/nM8ri3wJwmY

## This issue introduces many people’s impression of crypto wallets as “coin speculation”. The global users of Bitget Wallet have just exceeded 100 million, and the payment scale has exceeded transactions for the first time. When more and more people begin to use it to swipe cards, scan codes, cross-border transfers, manage finances, and even invest in global assets, the positioning of crypto wallets may be changing: it is no longer just a professional tool that serves crypto natives, but may become a financial application that ordinary people can actually open in their daily lives. This time we invite Bitget Wallet COO Alvin Kan. Alvin defines Bitget Wallet as a **global everyday finance wallet**: You can transfer money to people in any country, use local payment channels in different countries, and buy any asset in the world that has been chained - all of this is done on the chain through an App. We talked about three things. One is why “payments exceed transactions” may be a key inflection point for the crypto industry. Alvin shared the growth of Bitget Wallet in scenarios such as paying orders, opening cards, scanning QR codes to pay, cross-border transfers, etc., and also talked about his real experience of using Bitget Wallet to scan QR codes to pay in Vietnam: For tourists, digital nomads, freelancers, small businesses and emerging market users, a globally available wallet does not solve "should I use Crypto", but more specific problems - how do I spend money, receive money, exchange dollars, pay wages, and make cross-border transfers in different countries. The second is if an on-chain wallet wants to become a "global financial account", what kind of hard work must be done behind it. We started from why Latin American users need US dollar accounts, talked about code scanning in Southeast Asia, African bank transfer, and cross-border collection in South Asia; from on-ramp success rate, local payment channels, rates, P2P alternatives, we talked about chain abstraction, gas abstraction and pay with any token. Alvin also responded to the question of "whether the wallet is a local service provider shell": the real competitiveness is not a single payment function, but a complete PayFi loop that combines deposit, chainless perception, automatic interest generation, payment, RWA, and financial management. The third is what wallets may look like in the next 3 to 5 years. We talked about the opportunities and misunderstandings of RWA: tokenization solves distribution, allowing more people to access assets, but it does not automatically solve liquidity; we also talked about why financial management is not an additional business, but the infrastructure of US dollar accounts; we also talked about virtual US dollar accounts, freelancers using USD accounts to collect wages, AI agent payments, x402, micropayments, and why onchain payments are really underestimated. It is that information flow and capital flow can occur at the same time. Alvin said that the Internet has democratized the flow of information, and what onchain wants to democratize is the flow and ownership of assets. Crypto has come full circle, and may have finally returned to the essence of finance: from speculation to underlying technological innovation, from currency speculation tools to global financial infrastructure that ordinary people can use. ## Keywords Bitget Wallet, on-chain wallet, crypto wallet, PayFi, payment, stablecoin, emerging markets, Latin America, Brazil, Vietnam, scan code payment, cross-border transfer, bank transfer, Visa, Mastercard, on-ramp, off-ramp, RWA, tokenized stocks, US stocks, DeFi, MetaMask, Phantom, Revolut, Wise, virtual dollar account, AI agent payments, x402, micropayments, onchain payments ## The transcript will be released later at https://www.web3brand.io/, so stay tuned ## Host of this episode - **Guest Alvin Kan** Bitget Wallet COO, Twitter/X @alvin_kan - **Host Star** Podcast manager of Day1Global, user product manager for 10+ years, with a skill tree spanning content communities, e-commerce platforms and artificial intelligence, exploring becoming a super individual in the era of globalization. Twitter / Twitter / 03:05 - What does it mean for payments to exceed transactions for the first time: From transactions to payments, Crypto is moving towards higher frequency and more daily infrastructure scenarios 06:11 - Real payment scenarios and product matrix: How Alvin uses cards to consume, pay by scanning QR codes in Vietnam, and Bitget Wallet's card, scan code, bank transfer and cross-border remittance capabilities 12:39 - User portraits in emerging markets: Latin American users need US dollar accounts and automatic interest accrual, while South Asia, Africa, and Southeast Asia have needs for cross-border collection, scan-code payments, and stablecoins 18:36 - The most difficult part of serving ordinary users: on-ramp success rate, local payment channels, rates, and chain abstraction / gas abstraction 20:40 - Response to "Is the wallet a wrapper?": Bitget Wallet The core is not a single function, but the aggregation of local payment infrastructure, on-chain innovation and PayFi loop 25:20 - Why start betting on payments in 2024: The transaction narrative rotates too fast, stablecoins and payments can bring ordinary users who do not understand Crypto to the chain 29:12 - RWA and financial management: from tokenized stocks, SK Hynix (Hynix) case, to "RWA solves distribution "Does not solve liquidity", and why financial management is the infrastructure of US dollar accounts 40:30 - Competitive landscape and moat: Comparing OKX Wallet, Binance Wallet, MetaMask, Phantom, Revolut, Wise, why Bitget Wallet should be a globally available international US dollar account and payment platform 50:38 - Wallets in the next 3 to 5 years: virtual US dollar accounts, freelancer collections, AI agent payments, micropayments, and no chain and gas Daily Financial Experience 01:06:39 - Industry Judgment and Conclusion: Crypto Returns to the essence of finance, onchain payments allow information flow and capital flow to occur at the same time, and also makes asset flow and asset ownership more open** Disclaimer & Risk Warning: The views of the host and guests in the podcast only represent personal views, and sometimes they may hold a position in a project discussed in the podcast. This podcast is for informational purposes only and is not intended as investment advice, Always DYOR (Do Your Own Research). ** ## **Join the member-only community** - [Day1Global Pantry] Membership Plan ## **Contact us** - Official website: https://day1global.xyz/ - wx official account: search "day1global" - Listening channels: Xiaoyues | Apple | Bilibili | Youtube | Spotify ## **Tip us** If this episode is helpful to you, please support us by tipping - Legal currency: Newsletter (paid subscription) - ETH (EVM): 0x0D66A74b64198F3a27298e1a08007FDcAcF08fD3 - BTC: bc1qp26ljfpzmu4p3tvgrrmdx7h4cuzz5c9gqv54hr - Doge: DEN9XmHCXvbLQAKrZUZZHZBSyyY1uhpNs4 - SOL: 6KDaycLzxyzVdFsgieoCVjJKYEmffB8FztVmYZAiSmQQ - TON: UQDmT8U8AUVvjOCmfQemABi1auZn6unACxGVDeU9t1cqJ0ee