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Stablecoins & Payments · 2 min read

Mercuryo and Bitget Wallet Target APAC as Stablecoins Drive 56% of Regional Purchases

Asia now captures $245 billion in annual stablecoin payments, prompting a fee-waiver initiative across eight regional markets.

Editorial oversight: Julian Mercer, Chief Editor
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At a glance Announced

What happened
Mercuryo reported stablecoins comprise 56.2% of its APAC crypto volume and partnered with Bitget Wallet to cut on-ramp fees on Nov. 12, 2026.
Why it matters
Asia processes $245 billion of the world's $390 billion in annual stablecoin payments, shifting crypto usage toward cross-border settlement.
Who is affected
New Bitget Wallet users across eight selected APAC markets purchasing stablecoins such as USDC and RLUSD.
Takes effect
2026-11-12
What's next
The promotional zero-fee on-ramp campaign runs through Dec. 11, 2026.
Primary source
PR Newswire: More Than Half of Stablecoin Flow Gravitates to Asia as Region Cements Status as Global Hub for Digital Dollars

Key points

  • Stablecoins represented 56.2% of all crypto purchases handled by Mercuryo in the Asia-Pacific region 1.
  • Asia accounts for about 60% of worldwide stablecoin payments, totaling $245 billion of $390 billion annualized, according to McKinsey data 1.
  • Mercuryo and Bitget Wallet waived processor and network fees on select stablecoin on-ramps in eight APAC markets through Dec. 11, 2026 1.

Stablecoins made up 56.2% of all cryptocurrency purchases processed by payments infrastructure platform Mercuryo across the Asia-Pacific region, according to data released by the firm on Nov. 12, 2026 1. The figures accompany broader findings from consultancy McKinsey & Co. showing that Asia accounts for roughly 60% of global stablecoin payments, representing $245 billion of the $390 billion annualized volume recorded as of December 2025 1. At the time of writing, the broader digital asset market was trading under cautious sentiment, with $BTC at $72,981 and the Fear & Greed index registering 28.

According to Mercuryo, adoption of dollar-pegged tokens is heavily concentrated in several jurisdictions: stablecoins constituted 89.5% of crypto purchases in Taiwan, 70.3% in Hong Kong, and 66.1% in Malaysia 1. Furthermore, 66.5% of all stablecoin purchases across APAC were conducted using local fiat currencies rather than US dollars 1. Chainalysis research cited in the release noted that cross-border stablecoin volume across Central Asia, Southeast Asia, and Oceania is 3.2 times larger than domestic transactions, with the tokens generating an estimated 5% to 10% of inbound remittances into the Philippines 1. This aligns with broader shifts where companies leverage digital cash rails, as examined in DBS survey findings on tokenized money.

Fee Waivers Rolled Out Across Eight APAC Markets

To capitalize on this payment demand, Mercuryo teamed up with self-custodial provider Bitget Wallet to launch an onboarding promotion running from Nov. 12, 2026, through Dec. 11, 2026 1. Under the agreement, Mercuryo is eliminating its on-ramp fees and absorbing network charges for a user's first three purchases of stablecoins—such as $USDC and Ripple USD ($RLUSD)—up to $300 per transaction across eight APAC markets 1. Bitget Wallet's standard fees still apply 1.

The promotion is restricted to new Bitget Wallet accounts or existing users who have not previously transacted through Mercuryo, while excluding residents of the United Kingdom and the European Economic Area 1. The move follows an expanding trend of payment volume decoupling from market cycles, comparable to earlier trends detailed in Basis Desk reporting on stablecoin payments growth.

Questions this story raises

What fees are waived during the Mercuryo and Bitget Wallet campaign?
Mercuryo processor fees and blockchain network fees are waived on the first three stablecoin on-ramps up to $300 each, though Bitget Wallet fees still apply.
Which stablecoins are supported in the promotion?
The fee-waiver offer explicitly includes USD Coin (USDC) and Ripple USD (RLUSD), among other supported stablecoins.

Sources

  1. [1] More Than Half of Stablecoin Flow Gravitates to Asia as Region Cements Status as Global Hub for Digital Dollars — PR Newswire, November 12, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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