Bybit Launches Dual-Currency Crypto Card in Peru

Cryptocurrency exchange Bybit announced on Thursday the launch of its Bybit Card in Peru, a move aimed at connecting the country's digital asset market with everyday financial transactions. The virtual card allows users to spend funds directly from their Bybit account balances at merchants worldwide.

Card Features and Functionality

According to the company's statement, the Bybit Card is a virtual-only offering with no issuance or annual fees. It is designed to support dual-currency spending, allowing cardholders to make transactions in both Peruvian Soles (PEN) for local purchases and U.S. Dollars (USD) for international payments.

The card links directly to a user's exchange account, eliminating the need to off-ramp crypto into a traditional bank account before spending. Bybit stated the card is accepted by millions of online and in-store merchants globally where major card networks are supported.

New User Incentives

To mark the launch, Bybit introduced a promotional rewards package for new cardholders in Peru totaling up to 120 USDT (Tether). The welcome offer includes:

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• A 10 USDT airdrop after a qualifying initial account top-up of at least 100 USDT equivalent.
• A cashback booster of up to 110 USDT, offering a 10% rate on certain lifestyle spending during the first 30 days.

Beyond the initial promotion, the card offers ongoing rewards, including tiered cashback ranging from 2% to 10% on eligible purchases and full rebates on select digital subscriptions like Netflix and Spotify. The company noted that terms and conditions apply to all offers.

Strategic Context

This expansion into Peru is part of Bybit's broader strategy to increase its footprint in Latin America. The exchange is targeting Peru's young, mobile-first demographic, which has shown increasing adoption of digital payments.

"Peru’s financial landscape has undergone a quiet but meaningful transformation in recent years," said Patricio Mesri, Bybit's Country Manager for Spanish-speaking Latin America, in the announcement. "With the Bybit Card, Peruvians can spend PEN at home and spend USD anywhere when they explore the world, without friction."