Bybit launches Mastercard debit card

The cryptocurrency exchange Bybit has launched a Mastercard debit card in partnership with payments giant Mastercard.

Begin your 360° crypto journey with the virtual #Bybit card!

You can now pay using your favourite cryptocurrencies, directly from your #Bybit account.

Don’t miss out, apply here: https://t.co/k0PFFwwEOW#TheCryptoArk #BybitCard pic.twitter.com/5seU4pT4VU

— Bybit (@Bybit_Official) March 6, 2023

The Bybit Card will allow holders to pay for goods and services using their cryptocurrency account. The card is already available in European countries in virtual form for online transactions. Its physical version will launch in April 2023.

The service supports BTC, ETH, USDT, USDC and XRP. When paying for purchases, digital assets will be automatically converted into fiat and debited from the account.

The launch of the Bybit Card is handled by London-based payments solutions provider Moorwand.

The CEO of the crypto exchange, Ben Zhou, said that, thanks to the new solution, users will be able to manage their funds more quickly, more securely and more conveniently.

“We are confident that these innovative payment solutions will improve people’s lives and will be a step toward a brighter future for cryptocurrencies and traditional finance,” he added.

Earlier, Bybit paused accepting deposits in USD via SWIFT and bank transfers due to technical issues on the partner’s side until 10 March.