KEY TAKEAWAYS
- Bybit launches the Bybit Card in Georgia, enabling cryptocurrency spending at Mastercard-accepting merchants.
- The card offers security, flexibility, and rewards, enhancing financial inclusion and digital payment solutions.
- Bybit partners with Mastercard to support safe and easy crypto transactions, promoting innovation in digital assets.
- A 10% cashback promotion is available for new and existing cardholders, encouraging the use of digital assets in everyday life.
Bybit, recognized as the world’s second-largest cryptocurrency exchange by trading volume, has announced the launch of the Bybit Card in Georgia. This new payment solution allows residents to spend cryptocurrency at merchants that accept Mastercard, subject to applicable terms and conditions. The announcement was made here.
Tekla Iashagashvili, Country Manager of Bybit Georgia, highlighted Georgia’s dynamic market, stating that the Bybit Card makes it easier for people to use their digital assets in everyday life. The card offers security, flexibility, and rewards, aligning with Bybit’s reputation.
Mastercard Partnership Enhances Financial Inclusion
David Zgudadze, Vice President for Mastercard in Georgia and Armenia, emphasized the significance of this launch in advancing digital payments and financial inclusion. He noted that Mastercard supports innovations that enable consumers to use crypto assets safely and easily in everyday transactions.
The Bybit Card rollout marks an expansion of Bybit’s payment solutions in the region, allowing users to utilize their crypto holdings for everyday purchases. The card supports multiple cryptocurrencies and provides secure spending with EMV 3-D Secure protection, competitive conversion rates, and broad global acceptance.
Features and Promotions of the Bybit Card
The Bybit Card offers instant virtual card access upon approval and can be linked to digital wallets like Google Pay for contactless payments. A physical card is also available, subject to availability. To celebrate the launch, Bybit is offering a 10% cashback promotion for eligible cardholders, capped at the USD equivalent of up to $150 for new users and up to $75 for existing users.
Eligibility for the cashback requires an initial deposit of at least USD 100 (or equivalent) within 30 days of card approval. Participation is limited to users who have completed Individual Identity Verification Level 1 or Business Verification. Only payments made using cryptocurrency are eligible for cashback, excluding certain transactions such as withdrawals to e-wallets.
Sophie Chen, Head of Marketing for Bybit’s Payment Business Unit, stated that the expansion of the Bybit Card to Georgia reinforces Bybit’s commitment to bridging the gap between digital assets and everyday spending.
Salim Dhanani, CEO & Co-Founder of Pave Bank, expressed support for the initiative, noting that Pave Bank is proud to enable compliant banking infrastructure and payments connectivity for the Bybit Card. This partnership reflects a commitment to fostering innovation and supporting the regulated adoption of digital assets in Georgia.
Why This Matters: Impact, Industry Trends & Expert Insights
Bybit has launched its cryptocurrency payment card in Georgia, enabling residents to use digital assets for everyday purchases through the Mastercard network.
Recent industry reports indicate that crypto payment adoption is accelerating, with 39% of merchants now accepting cryptocurrency at checkout. This trend is driven by high consumer demand and expectations that crypto will become commonplace. The introduction of the Bybit Card in Georgia aligns with this trend by expanding crypto usability in everyday transactions.
As per insights from industry experts, crypto payment cards are seen as a maturing bridge between digital assets and everyday spending. Stablecoins, in particular, enable seamless integration via Visa and Mastercard networks, enhancing the practicality of such cards. This reinforces the significance of Bybit’s initiative to provide secure and flexible payment options for crypto users in Georgia.
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