Cryptocurrency exchange Bybit has announced the launch of a new crypto debit card called Bybit Card. Powered by Mastercard, Bybit Card will allow holders to purchase services and goods using crypto.
Bybit Card Details
As said, Bybit Card will be powered by the Mastercard network issued by London-based payments solutions provider Moorwand. This debit card will allow users to off-ramp crypto into the fiat world to easily make purchases or take out cash from ATMs.
Bybit Card will be available across Europe and the United Kingdom (UK) and handed to clients who have completed the necessary KYC and AML procedures. BTC, ETH, USDT, USDC, and XRP are the blue-chip cryptocurrencies that can be spent with the Bybit Card.
Payment requests will automatically convert balances in these digital assets into EUR or GBP, depending on the client’s country of residence.
“Bybit users will be able to access and manage their funds faster, more securely, and more conveniently,” said Ben Zhou, co-founder, and CEO of Bybit. “By launching Bybit Card, we are creating a full 360-degree journey for our users, offering next-level reliability, products, and opportunities. We are confident that these innovative payment solutions will improve people’s lives and are a step towards a brighter future for crypto and finance.”
Bybit launched its free virtual card today, Mar. 7, allowing for online purchases, with a physical card planned to launch in April. The plastic cards will be mailed directly to clients, allowing them access to ATM withdrawals and spending at merchants worldwide, with spending limits aggregated across currencies held in their Bybit account.