A few days ago, Bybit announced that it would no longer accept bank transfers in US dollars. The company plans to launch a crypto debit card with Mastercard soon in April.
Indeed, the crypto exchange Bybit and MasterCard have partnered to launch the ICYMI debit card. The latter will be available for use in all Mastercard partner outlets.
The Bybit crypto card will allow users to make fiat transactions by debiting their crypto balances for the purchase of goods and services.
The new service will support Bitcoin, Ethereum, Tether, USD Coin and Ripple (XRP) balances on user accounts.
Christian Rau, senior vice president of fintech and crypto at Mastercard Europe, said:
With launches like this, we are excited to continue innovating in payments by making digital assets more accessible across the ecosystem.
Ben Zhou, co-founder and CEO of Bybit, commented:
Bybit users will be able to access and manage their funds faster, more securely and conveniently. By launching Bybit Card, we are creating a complete 360-degree journey for our users, offering next-level reliability, products and opportunities.
Other crypto companies such as Ledger, Blockchain.com, Huobi, or Abra have also announced the launch of a crypto bank card.
The upcoming arrival of this Bybit crypto bank card illustrates the growing interest of the general public in crypto debit cards.