Bybit Joins Forces with Mastercard and Moorwand to Introduce Crypto Debit Cards

The Bybit Card, powered by the Mastercard network, allows users of the Dubai-native exchange to shop for products and services using cryptocurrency.

With Bybit Card, cryptocurrency enthusiasts can bypass off-ramp services and intermediary channels. The card will accept Bitcoin, Ethereum, XRP, USDT, and USDC, converting them into euros or British pounds at the point of sale. This card is designed for users in Europe and the UK.

To kick off this initiative, Bybit has rolled out complimentary virtual cards suitable for online shopping. In April, customers will receive their physical cards, which can be utilized at more than 90 global retail outlets that accept Mastercard.

On another note, Moorwand, a payments solutions company based in London specializing in digital banking, will be responsible for issuing the cards.

"With the introduction of the Bybit Card, users will gain faster, safer, and more convenient access to their funds. This launch aims to provide a comprehensive experience for our customers, offering greater reliability, innovative products, and tremendous opportunities. We believe these cutting-edge payment solutions will enhance the quality of life for many and pave the way for a brighter future in crypto and finance,\"

expressed Ben Zhou, the co-founder and CEO of Bybit.

This collaboration marks a significant milestone for Bybit, allowing the exchange to leverage Mastercard’s extensive network of merchants and partners. Additionally, this partnership positions Bybit within the competitive space for crypto debit cards, traditionally led by Binance. It's interesting to note that Binance secured a partnership with Mastercard in August 2022 and earlier launched its card in Argentina, the first country in Latin America to adopt this offering. growing market It's important to highlight that on February 28, both Mastercard and Visa announced their decision to suspend partnerships with cryptocurrency companies due to industry instability and regulatory challenges. Consequently, Bybit's alliance with Mastercard could very well be the last such collaboration for the foreseeable future. partnered Mastercard is embracing Web3 by introducing a payment service specifically for NFTs.

Mastercard collaborates with Binance to enable cryptocurrency transactions in over 90 million retail locations. announced Mastercard teams up with the cryptocurrency platform hi to unveil the world's first customizable NFT debit cards.

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• Valeria serves as a correspondent for Metaverse Post, focusing on fundraising, artificial intelligence, the metaverse, digital fashion, NFTs, and all things Web3.
• Holding a Master's degree in Public Communications, Valeria is also pursuing a second major in International Business Management. In her spare time, she enjoys photography and fashion styling. Her journey into journalism and style began at age 13 when she launched her first fashion blog.