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Bybit Launches Crypto-Linked Virtual Card in Peru
Cryptocurrency exchange Bybit announced on Tuesday the launch of its virtual Bybit Card in Peru, a move aimed at bridging digital asset holdings with everyday consumer spending. The card allows Peruvian users to pay for goods and services directly from their Bybit account balances at merchants worldwide.
Card Features and Incentives
The Bybit Card is a virtual-only product with no issuance or annual fees, according to the company's statement. A key feature is its dual-currency functionality, supporting 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 welcome package for new cardholders in Peru valued at up to 120 USDT. The promotion includes:
- A 10 USDT airdrop following an initial account top-up of at least 100 USDT equivalent.
- A special 10% cashback booster on certain lifestyle purchases during the first 30 days, capped at 110 USDT.
AdStandard features include tiered cashback rewards ranging from 2% to 10% on eligible spending and rebates on select digital subscriptions. The company noted that while there are no annual fees, foreign exchange conversion fees may apply to some transactions.
Strategic Focus on Latin America
The expansion into Peru is part of Bybit's broader strategy to increase its footprint in Latin America's emerging markets. The company sees an opportunity in the region's growing adoption of digital payments, particularly among younger, mobile-focused consumers.
"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. He added that the card allows Peruvians to "spend PEN at home and spend USD anywhere when they explore the world, without friction."