Bybit Launches Debit Card

    Singapore-based cryptocurrency exchange Bybit has announced the launch of its new debit card, which enables users to make payments and withdraw cash using their cryptocurrency holdings.

    Bybit’s debit card will operate on the Mastercard network and will initially allow users to make fiat-based transactions by debiting their cryptocurrency balances. The new service begins with the launch of a free virtual card for online purchases, while physical debit cards will be available from April 2023. The card supports Bitcoin, Ether, Tether, USD Coin, and XRP balances on user accounts. When payments are made with the Bybit card, the balances of these initial cryptocurrencies will be automatically converted into euros or pounds, depending on the user’s country of residence.

    With the launch of the Bybit card, users can now spend their cryptocurrency on everyday purchases, providing a significant boost to the industry’s adoption. The physical debit card, which is set to launch in April 2023, will enable users to withdraw cash from ATMs and make in-store purchases, further expanding the use cases for cryptocurrency in everyday life.

    With the launch of the Bybit card, the vision of a world where cryptocurrency is widely accepted and used for everyday transactions is one step closer to becoming a reality.

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