Bitget Wallet opens EUR accounts: incoming euros become USDT or USDC

Bitget Wallet launched a feature on October 27, 2026 that connects a crypto wallet to conventional payments: users receive their own account number in US dollars and in euros, and whatever arrives there is converted automatically into a stablecoin. For you as an investor in Germany that first of all means money can flow into a wallet by SEPA without an exchange in between. It also means three things need clearing up before you send money there: which stablecoin ends up in the wallet, who holds the euro balance before the conversion, and what happens to the holding period.

What Bitget Wallet launched with the Virtual Account

The feature is called Virtual Account. According to the company announcement, users receive a personal account number in US dollars and in euros inside the self-custodial wallet. Opening it is free, and no local residence or branch visit is required. Whether a dollar account, a euro account or both are available depends, according to the announcement, on where the user is located.

A Virtual Account is not a bank account in the legal sense but an account number through which a payment service provider accepts money and immediately books it into a digital dollar. According to the company, the feature belongs to the wallet’s Onchain Payments Matrix, which also includes its own payment card. The use case therefore sits clearly in payments and not in trading.

Alvin Kan, Chief Operating Officer of Bitget Wallet, frames the step in the announcement by saying that crypto wallets are developing into everyday financial centres, in the original “Crypto wallets are evolving into everyday financial hubs”. What is meant is a bundle of receiving, managing and sending money without giving up control of the holdings.

Noah in the background: who provides the account number

The account numbers do not come from Bitget Wallet itself but from Noah, a provider of stablecoin payments. By its own account, Noah processes transactions in more than 60 currencies across more than 150 countries and territories and holds over 40 licences, registrations and approvals in the United States, Canada and Europe. Which licence specifically sits behind the euro account, and which supervisory authority is responsible, the announcement does not say.

This is the point to look at more closely, because it decides the legal position of your euro balance in the second between arrival and conversion. Shah Ramezani, founder and chief executive of Noah, describes the offering in the announcement as something that “effectively works like a global neobank, except users control their own keys”. The phrasing captures the construction well and shows its limit at the same time: control of the keys applies to the stablecoins after the conversion, not to the euros before it.

What a payment service provider may and may not do

A payment institution accepts money and passes it on. Unlike a bank, it may not invest client funds on its own account but has to hold them separately from its own assets. That separation protects in an insolvency, but it does not replace deposit insurance. What that means in practice follows further down.

SEPA, SWIFT, ACH and Fedwire: which incoming payments the account accepts

According to the company, the Virtual Account accepts incoming payments over four routes: SEPA and SWIFT for European and international payments, ACH and Fedwire for the United States. The user does not need a US or European bank account for this. For German users SEPA is the relevant route, because an ordinary euro transfer from a current or savings account runs over it.

The company names three target groups. First, freelancers and cross-border workers who receive salaries or fees in dollars or euros without holding an account in the client’s country. Second, recipients of international transfers. Third, users who want to move money from their bank account into stablecoins without going through an exchange or a separate payment provider.

Automatic conversion into USDT or USDC: under MiCA these are not the same

According to the company, incoming amounts are converted automatically into USDT or USDC. Those two names stand for two very different legal positions in the European Union, and this is where the most important checkpoint of the whole offering lies for German users.

A stablecoin is a token whose price is pegged to a currency, in these two cases to the US dollar. The EU treats such tokens in its Markets in Crypto-Assets Regulation, MiCA for short, as e-money tokens and requires a corresponding authorisation from the issuer. Circle, the issuer of USDC and of the euro token EURC, announced on July 1, 2024 that it had received a licence as an electronic money institution from the French supervisor ACPR, and has since issued both tokens in a MiCA-compliant way by its own account (Circle announcement). Tether has not announced such an authorisation for USDT.

In practice that means which of the two tokens ends up in your wallet is not a matter of taste. Anyone who cares about holding only an e-money token authorised in the EU has to find out before the first transfer whether the target currency can be fixed in the app. Which stablecoins are tradable and how they differ in backing and supervision is set out in our stablecoin comparison.

A second reason to watch the token

The difference bites not only when holding but also when using the token further. An e-money token authorised in the EU can be traded on with supervised providers without detours. With a token lacking that authorisation, the route back into euros can run through providers outside the EU, and that pushes an additional stop between you and your money.

Two dollars on 500 dollars: what the fee figure covers

The company works through an example in its announcement: an ACH transfer of 500 US dollars costs around 2.00 US dollars in wallet fees. As a benchmark the announcement names a global average for remittance costs of about 6 percent, that is roughly 30 US dollars on 500 US dollars, citing World Bank data. Both figures come from the provider and have not been independently recalculated by us.

What matters is the caveat the announcement supplies itself: third-party fees can apply on top, for instance from the sending bank or from the blockchain network over which the stablecoin is delivered. The 2 dollars are therefore the wallet’s share, not the final price. For a SEPA transfer in euros the announcement gives no worked example.

There is also a launch promotion: the company reimburses transaction fees for the first 1,000 eligible users with a qualifying first deposit. What counts as qualifying, and how large the reimbursement is, the announcement does not say.

How to add up the costs yourself

Three items count: the sending bank’s fee for the transfer, the wallet’s fee for acceptance and conversion, and the network fee for delivering the stablecoin. Only the sum shows whether the route is cheaper than a deposit at a licensed exchange followed by a purchase.

Withdrawals are still missing: the account takes money in but gives none out

The company names the biggest gap in the offering itself. Outgoing bank transfers are not available so far; according to the announcement they are planned for the coming months. There is no date. For now the Virtual Account is therefore an inbound channel: euros in, stablecoin in the wallet, and the way back to a bank account runs through another provider.

For planning that means you should settle the exit before the entry. Anyone who wants to swap stablecoins back into euros later needs an exchange authorised in the EU or a broker with euro payouts anyway. The wallet does not replace that step at present, even though it shortens the way in.

No deposit insurance: a Virtual Account is not a bank account

Statutory deposit insurance of 100,000 euros per customer and institution applies to deposits at credit institutions. A payment service provider is not a credit institution, and a stablecoin is not a deposit. For a balance in a Virtual Account and for tokens in a wallet that protection therefore does not apply, regardless of how reliably the provider works.

What protects instead is twofold. Before the conversion, the payment institution’s duty to hold client funds separately from its own assets. After the conversion, the backing of the stablecoin by its issuer, and with an authorised e-money token under the rules of MiCA. Bitget Wallet additionally points to its own protection fund of more than 300 million US dollars, hardware-backed key security, independent audits and real-time risk monitoring. These are company statements, not a legal entitlement.

Holding period under section 23 EStG: what the conversion into stablecoins triggers

For tax purposes the automatic conversion is not a side effect but an event with a date. Crypto assets count in Germany as other assets and fall under private disposal transactions in section 23 of the Income Tax Act. Anyone swapping euros into a stablecoin acquires an asset, and from that day the one-year holding period runs.

The stablecoin itself produces hardly any price gains, because it is pegged to the dollar. The exchange rate between euro and dollar does move, however, and every further swap of the stablecoin into another coin is a disposal of the stablecoin and at the same time an acquisition of the new coin. Anyone buying Bitcoin or Ether out of the Virtual Account therefore starts a new period. Gains from private disposal transactions stay tax-free within a calendar year up to an exemption threshold of 1,000 euros; once it is exceeded, the entire gain is taxable.

In practice you need three details for every deposit: date, euro amount and the quantity of the stablecoin received. Without those lines no period can be documented later. Which tools read such events automatically from wallet addresses is shown in our comparison of crypto tax tools. One note that does not replace tax advice: with a salary flowing in euros into such an account, wage tax is untouched, and the conversion comes on top for tax purposes.

Self-custody with fiat inflows: what your own keys cover here

Self-custody means the private keys to the holdings sit with the user and not with the provider. Bitget Wallet is built that way, and the Virtual Account changes nothing about it: after the conversion the stablecoins sit in the user’s wallet. The quote from Noah’s chief executive describes exactly this mixture, an account number as at a bank and keys as in a wallet.

The mixture has a downside that every self-custody solution shares. Whoever loses the recovery phrase loses access, and nobody can reset it. With an account that will receive a salary in future, that point weighs more heavily than with a wallet holding small amounts. Anyone drawing a salary through such an account in future is therefore better off storing the recovery phrase outside the phone before the first amount arrives.

Availability in Germany: what the announcement leaves open

Three questions remain open after the announcement, and for German users they are the decisive ones. First, the announcement names no list of countries in which a euro account can be opened; it says only that availability depends on where the user is located. Second, it stays unclear under which licence and which supervision the euro account is held. Third, a date for the outgoing transfers is missing.

As long as those three points stay open, the offering cannot be assessed conclusively for Germany. The rest is verifiable: the routes money comes in by, the automatic conversion, the fee figure and the fact that withdrawals are missing. The company announcement is online as a press release via GlobeNewswire.

Bitget Wallet EUR account: without withdrawals it stays an inbound channel

1. Settle the target currency before money flows. Check in the app whether USDC rather than USDT can be fixed as the result of the conversion, and compare the two tokens beforehand on backing and supervision in the stablecoin comparison.
2. Secure the way back into euros. Because outgoing transfers are missing, you need a second provider for the swap back. Which authorised trading venues pay out euros and what they charge for it is in our exchange comparison.
3. Think about keys and records right away. Store the recovery phrase outside the phone before larger amounts arrive; suitable devices are in the hardware wallet comparison. Note the date, euro amount and quantity of tokens received for every deposit.

(As of October 27, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)