Bitget Wallet has launched Assetback, a rewards programme that converts eligible spending on its Visa and Mastercard-backed card into Bitcoin, gold (via the XAUT token), or tokenized US equities and ETFs. Users select their preferred asset once inside the app and the conversion happens automatically at the point of settlement, with no brokerage account or secondary app required. The programme went live globally on 1 August 2026 and offers up to 3% cashback. Stablecoins are offered as an alternative for users who prefer them.
The tokenized equity component runs through xStocks, Payward’s tokenized real-world asset framework. Available instruments at launch include individual names such as NVIDIA, Tesla and Alphabet, as well as an S&P 500 ETF wrapper. The selection puts Bitget Wallet in the territory of regulated investment products, though the company describes the feature as a cashback mechanism rather than an investment service, a distinction that will draw regulatory attention in several of its 50-plus operating markets.
Structural shift, not just a product feature
The company’s framing is deliberate. Traditional card rewards programmes return fiat cashback, airline miles or retail points, categories that the release argues erode in value through inflation, expiry or redemption friction. Assetback’s design embeds a dollar-cost averaging mechanic into everyday spending: recurring small purchases accumulate fractional positions over time rather than sitting as uninvested cash.
Alvin Kan, chief operating officer of Bitget Wallet, put the commercial logic plainly: “Card rewards have returned cash or points for forty years, not because they delivered the best outcome for users, but because delivering anything else required infrastructure that didn’t exist. That infrastructure now exists.”
The claim is supported by sector-level data cited in the release. Monthly crypto card payment volume across the industry reached $656 million in May 2026, more than double the $271 million recorded in May 2025, with cumulative sector volume reported above $7.8 billion. Bitget Wallet Card spending is said to have nearly tripled in the first half of 2026, with transaction frequency and average values moving toward those of traditional consumer cards.
Market context and regulatory read-across
Several crypto-native card issuers have offered Bitcoin or stablecoin cashback before, among them Crypto.com and Coinbase Card in various jurisdictions, but the combination of tokenized equities alongside Bitcoin and gold in a single cashback mechanic is less common. The differentiating bet is that tokenized real-world assets have matured enough in settlement and custody infrastructure to be delivered at the small-value, high-frequency end of retail spending.
Regulatory classification will be the critical variable. In the European Union, tokenized equities fall under MiCA’s broader framework and may intersect with MiFID II if they constitute transferable securities. In the UK, the FCA‘s evolving cryptoasset registration regime does not yet have a fully settled position on tokenized equities delivered as cashback, and firms operating in this space face the prospect of dual classification as both an e-money issuer and an investment firm. Markets across the Gulf, where Bitget Wallet is active, apply their own layered frameworks through bodies such as VARA in Dubai and the DFSA in the DIFC.
The financial inclusion angle is the more interesting long-term argument. Access to US equities remains expensive or structurally restricted for retail investors across large parts of Latin America, Southeast Asia and Africa. Delivering fractional S&P 500 exposure through a payments reward, rather than requiring a brokerage account, removes several onboarding barriers, though it also raises questions about suitability disclosure and investor protection standards in markets where those frameworks are still developing.
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