Bybit Expands into Peru with Dual-Currency Crypto Debit Card

Cryptocurrency exchange Bybit has launched its virtual debit card in Peru, aiming to connect users' digital asset holdings with everyday spending. The company announced that the new card will support transactions in both Peruvian Soles (PEN) for local purchases and U.S. Dollars (USD) for international use.

Card Features and Launch Promotions

According to a press release from Bybit, the virtual card is issued instantly with no issuance or annual fees and draws directly from a user's balance on the exchange. The company is introducing the product with a promotional welcome package for new Peruvian cardholders.

To celebrate the launch, Bybit is offering a rewards bundle of up to 120 USDT (Tether). The promotion includes:

• A 10 USDT airdrop after a user completes identity verification and deposits a minimum equivalent of 100 USDT.
• A cashback booster of up to 110 USDT, offering a 10% rate on certain lifestyle purchases during the first 30 days.

Beyond the initial offer, the card provides tiered cashback rewards ranging from 2% to 10% and full rebates on select digital subscriptions, such as Netflix and Spotify, according to the company's statement.

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Strategic Expansion in Latin America

The move into Peru is part of Bybit's strategy to expand its footprint in emerging markets, particularly in Latin America. The company cited Peru's growing adoption of digital payments among its young, mobile-first population as a key factor in the decision.

"With the Bybit Card, Peruvians can spend PEN at home and spend USD anywhere when they explore the world, without friction," said Patricio Mesri, Bybit's Country Manager for Spanish-speaking Latin America. The exchange, which claims to be the world's second-largest by trading volume, stated that over 3 million users globally already use the Bybit Card.

Market Context

This launch reflects a broader trend among cryptocurrency platforms to increase the real-world utility of digital assets by integrating them with traditional payment systems. By offering a dual-currency card, Bybit aims to reduce the barriers between holding cryptocurrencies and using them for daily transactions, both domestically and abroad. The expansion into Peru signals the company's focus on user growth in regions with developing digital payment infrastructures.