KEY TAKEAWAYS
- Bybit launches the Bybit Physical Card to simplify global cryptocurrency spending.
- The card, regulated by AFSA, offers seamless transactions wherever Mastercard is accepted.
- Cardholders enjoy benefits like 2% cashback in cryptocurrencies and integration with Samsung Pay and Google Pay.
- VIP users receive free card issuance, while others can obtain it for a fee, with no annual or monthly charges.
Bybit, recognized as the world’s second-largest cryptocurrency exchange by trading volume, has announced the introduction of its latest product, the Bybit Physical Card. This new offering aims to simplify cryptocurrency spending for users worldwide, enhancing accessibility and convenience.
Simplified Global Spending
The Bybit Physical Card, issued by Bybit Limited and regulated by the Astana Financial Services Authority (AFSA), is now available to eligible international users. Developed in collaboration with S1LKPAY, the card facilitates seamless cryptocurrency transactions wherever Mastercard is accepted. This feature makes it particularly appealing to frequent travelers and those engaging in international payments.
Key Benefits of the Bybit Physical Card
The Bybit Physical Card offers several advantages designed to enhance the user experience. VIP users benefit from free card issuance and delivery, while non-VIPs can obtain the card for a fee of $29.99, with delivery taking approximately five working days. Notably, the card comes with no annual or monthly fees, eliminating hidden costs for users.
Cardholders can earn 2% cashback in popular cryptocurrencies such as USDT and AVAX on eligible purchases. Additionally, the card offers up to 8% APR, providing extra value for holders. Integration with Samsung Pay and Google Pay further enhances convenience, allowing for faster digital payments.
How It Works
To acquire the Bybit Physical Card, users must first apply for a Virtual Card. The Physical Card complements the Virtual Card by offering additional flexibility and benefits for real-world transactions. New cardholders can enjoy a 10% cashback reward, capped at $300, as part of the introductory offer.
For more details, the official announcement can be found here.
Why This Matters: Impact, Industry Trends & Expert Insights
Bybit has launched its Physical Card, aiming to simplify global cryptocurrency spending by enabling seamless transactions wherever Mastercard is accepted.
Recent industry reports indicate an increased adoption and innovation in cryptocurrency prepaid and debit cards. This trend is evident as cards like Bybit’s leverage major payment networks, enhancing crypto’s utility in everyday commerce. Koinly
As per insights from a Cryptonomist report, Bybit’s move into the physical card market is expected to have a significant impact, particularly in dynamic regions like Brazil. This supports Bybit’s strategic expansion into markets with growing interest in cryptocurrency for daily transactions. Cryptonomist
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