The banking protocol Fiat24 has officially announced a suspension of new account openings for residents of mainland China. According to a notification shared by the cryptocurrency platform Bitget, the restriction came into effect on June 5, 2026, at 12:00 (UTC+8). This move impacts the integration between decentralized finance (DeFi) services and traditional fiat gateways, specifically affecting the accessibility of crypto-linked debit cards within the region.
Impact on Bitget Wallet and Card Issuance
The policy shift was communicated via the social media platform X by Bitget, which integrates Fiat24 services within its ecosystem. As a result of this administrative update, new users in mainland China are temporarily prohibited from applying for the Fiat24 card through the Bitget Wallet interface. This development marks a significant adjustment in how offshore fintech providers navigate the regulatory landscape of the Chinese market.
Key details regarding the suspension include:
- The suspension applies exclusively to new user registrations originating from mainland China.
- Existing cardholders who completed their applications prior to the deadline are not affected.
- Current users can continue to utilize their cards for transactions and financial operations as usual.
- The restriction specifically targets the Fiat24 card application process within the Bitget Wallet application.
Context of the Service Adjustment
Fiat24 operates as a regulated Swiss blockchain bank that bridges the gap between Web3 wallets and the traditional banking system by using non-fungible tokens (NFTs) as account identifiers. The decision to halt new onboarding in mainland China follows a broader trend of international virtual asset service providers (VASPs) refining their compliance frameworks in response to regional legal requirements. While the service remains active for the existing user base, the pause for new applicants suggests a cautious approach to regional expansion during this period.
In summary, while the Bitget Wallet continues to serve its global audience, the specific integration with Fiat24 is now limited for new mainland Chinese clients. Stakeholders and observers of the Web3 banking sector will be monitoring whether this suspension is a temporary measure or a long-term strategic shift. For now, the focus remains on ensuring service continuity for the established user base while adhering to the updated service protocols.
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