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Bybit Launches Crypto-Linked Virtual Card in Peru
Cryptocurrency exchange Bybit has launched its virtual Bybit Card in Peru, enabling users to spend their digital asset holdings directly with merchants. The move aims to connect the country's digital finance ecosystem with traditional payment networks, according to a company announcement on Tuesday.
Product Details and Launch Offer
The Bybit Card is a virtual card with no annual fees that draws funds directly from a user's Bybit account balance. It supports transactions in both Peruvian Soles (PEN) for domestic purchases and U.S. Dollars (USD) for international spending.
To mark the launch, Bybit is offering a promotional package for new cardholders in Peru that includes up to 120 USDT in rewards. According to the company, the welcome bundle consists of:
- A 10 USDT airdrop after an initial account top-up equivalent to at least 100 USDT.
- A special 10% cashback rate on certain lifestyle purchases during the first 30 days, capped at 110 USDT.
AdStrategic Rationale
The launch is part of Bybit's broader strategy to expand its services in emerging Latin American markets. The company cited Peru's digitally-savvy population as a key factor in its decision. "Peru’s financial landscape has undergone a quiet but meaningful transformation in recent years as its young, mobile-first population has embraced digital payments," said Patricio Mesri, Bybit's Country Manager for Spanish-speaking Latin America.
Bybit reports that its card is already used by over 3 million people globally. Standard features include tiered cashback ranging from 2% to 10% on eligible purchases and full rebates on select digital subscriptions such as Netflix and Spotify. The company notes that while there are no issuance fees, foreign exchange conversion fees may apply to certain transactions.