After halting USD transfers for several days, Bybit launches a crypto debit card supported by Mastercard

2023-03-06 19:52:37

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ChainCatcher news, Bybit will launch a new debit card product that allows users to make payments and withdrawals using cryptocurrency. The Bybit card will operate on the Mastercard network and will enable fiat-based transactions by deducting cryptocurrency balances when paying for goods and services. The service initially launched a free virtual card for online shopping, with a physical debit card set to be released in April 2023.
The service will work with BTC, ETH, USDT, USDC, and XRP balances on user accounts. Payments will automatically convert the balances of these initial cryptocurrencies to euros or pounds, depending on the user's residence.
Previously, on March 4, Bybit announced that it had suspended USD top-ups via bank payments due to service disruptions from partners, and USD top-ups via wire transfer (SWIFT) and wire transfer (US banks) are no longer available. Bybit did not disclose whether the banking partner was Silvergate in the announcement. (Source link)

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