Bybit Launches Dual-Currency Crypto Card in Peru, Expanding Latin America Push

Bybit, one of the world's largest cryptocurrency exchanges by trading volume, has launched its virtual debit card in Peru, according to a company announcement. The move allows users in the country to directly spend their digital asset and fiat balances at merchants globally, marking a significant step in connecting crypto holdings with traditional payment infrastructure in Latin America.

Card Features and Launch Incentives

The Bybit Card is a virtual-only product with no issuance or annual fees, which draws funds directly from a user's Bybit account. It is designed to support both local and international transactions by offering dual-currency functionality in Peruvian Soles (PEN) and U.S. Dollars (USD).

To promote the launch, Bybit is offering a welcome package for new Peruvian cardholders valued at up to 120 USDT. According to the company, the promotion includes:

• A 10 USDT airdrop after an initial account top-up.
• A 10% cashback booster on certain purchases during the first 30 days, capped at 110 USDT.

Additional features cited by Bybit include tiered cashback rewards ranging from 2% to 10% and full rebates on select digital subscriptions. The company noted that while the card has no annual fees, foreign exchange conversion fees may apply to certain transactions.

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Strategic Focus on Peru

The expansion into Peru is part of Bybit's strategy to tap into emerging markets with growing digital payment adoption. The company already serves over 3 million cardholders globally.

"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, in a statement. He added that the card allows Peruvians to spend PEN domestically and USD internationally without friction.

Market Context

The introduction of crypto-linked cards by major exchanges like Bybit reflects a broader industry trend aimed at increasing the real-world utility of digital assets. By enabling seamless conversion and spending at millions of merchant locations worldwide, these products aim to bridge the gap between the digital economy and everyday commerce.