CoinDesk
Gate is expanding beyond trading with Gate Money, an app that lets users hold and convert cash, cryptocurrencies, stocks and gold in one account, then spend from those holdings with a card. Founder Lin Han said the company is targeting mainstream consumers, particularly in Asia, where access to international brokerage accounts can be limited.
Gate is joining an intensifying push by crypto exchanges to become all-in-one finance apps. The Cayman Islands-headquartered company has more than 60 million users and $2 billion in 24-hour trading volume. Han said Gate wants to reach people beyond professional traders and sees broader consumer adoption as a major growth opportunity.
Why it matters
The strategy makes crypto one part of an everyday financial account rather than a standalone trading activity. Gate's pitch also reaches beyond crypto: users could hold stocks and gold alongside digital assets and spend from those balances using a card. Han's example was buying a coffee with Nvidia stock, without first converting it to cash.
Gate sees money apps such as Revolut, Cash App and Wise as immediate competitors, while exchanges including Coinbase, Binance, Bybit and Robinhood are also broadening their consumer offerings. The competition puts pressure on platforms to combine payments, investing and asset conversion in a single experience.
Market impact
Gate says users will be able to convert holdings at any time, including outside normal stock-market hours. Han did not explain how conversions would be priced or executed when the underlying markets are closed, leaving a key operational detail unresolved.
For Gate, the bet is that a broader account can attract users who would not otherwise open a crypto trading account. Its ability to make multi-asset holdings practical for everyday payments, especially in its target Asian markets, will be central to whether the super-app strategy gains traction.
Frequently asked questions
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What assets can users hold in Gate Money?
Gate says users can hold and convert cash, cryptocurrencies, stocks, gold and other assets in one account.
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How does Gate Money let users spend their holdings?
The app includes a card that lets users spend from the assets held in their account. Gate says users could spend without first holding cash.
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Which consumers is Gate targeting with the app?
Founder Lin Han said Gate is targeting mainstream consumers, particularly in Asia, where access to international brokerage accounts can be limited.
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Which companies does Gate see as competitors?
Han named money apps Revolut, Cash App and Wise as immediate competitors. Gate also faces exchanges including Coinbase, Binance, Bybit and Robinhood that are broadening their offerings.
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What detail about Gate Money's asset conversions remains unclear?
Gate says users will be able to convert holdings outside normal stock-market hours, but Han did not explain how those conversions would be priced or executed.
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