Competition among crypto exchanges is moving beyond trading metrics and toward broader day-to-day financial services for users, according to a report cited by ChainCatcher from Cointelegraph. During TOKEN2049, Gate introduced Gate Money, a one-stop financial services app positioned around that shift.
Gate founder and CEO Dr. Han said the product is designed to bridge traditional investing and everyday spending. The app combines a user’s same-name bank account, fiat balances, crypto assets, and traditional financial holdings such as stocks and gold within a single account system. It also works with Gate Card, which supports Apple Pay and Google Pay, as well as a Visa co-branded card, giving users a way to spend assets directly.
Gate Money also includes multiple fiat deposit and withdrawal options, onchain transfers, instant swaps, and wealth management products offering up to 3.6% annualized yield. Gate said compliance and transparency remain central to its expansion, adding that it has obtained compliance qualifications in Malta, Dubai, Australia, and the United States. The platform’s total reserves stand at $8.688 billion, with a total reserve ratio of 118.49%.
Competition among crypto exchanges is changing, with the industry focus expanding from trading data to users’ broader day-to-day financial needs, according to Cointelegraph as cited by ChainCatcher.
During TOKEN2049, Gate officially launched Gate Money, a one-stop financial services app aimed at that new battleground. Gate founder and CEO Dr. Han said Gate Money is built to break down the divide between traditional investing and everyday spending.
According to the product description, Gate Money brings together a user’s same-name bank account, fiat currency, crypto assets, and traditional financial holdings such as stocks and gold under one account system. It also pairs with Gate Card, which supports Apple Pay and Google Pay, along with a Visa co-branded card, giving those assets direct spending utility.
The app also integrates multiple fiat deposit and withdrawal channels, onchain transfers, instant swaps, and wealth management services with yields of up to 3.6% annualized, covering asset management, value growth, and payments in one place.
As it expands its business, Gate said it continues to place compliance and transparency at the center of its operations. The platform has obtained compliance qualifications in Malta, Dubai, Australia, and the United States. Gate also disclosed total reserves of $8.688 billion and a total reserve ratio of 118.49%.
The launch of Gate Money points to Gate’s push to broaden its role from a trading platform into a wider financial ecosystem spanning everyday payments and full-spectrum asset management.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
