Cryptocurrency exchange Bybit has launched a Mastercard-powered debit card that allows users to pay for goods and services with their cryptocurrency holdings. The announcement comes shortly after the exchange halted U.S. dollar bank transfers due to “service outages” by one of its processing partners.
Here is a step-by-step process of how the Bybit debit card works:
- The Bybit Card operates on the Mastercard network.
- Users can apply for a free virtual card for online purchases, which will be available at the launch.
- Physical debit cards will be available starting in April 2023.
- The card will allow for fiat-based transactions by debiting cryptocurrency balances when used to pay for goods and services.
- Users can continue to make USD deposits using other payment methods.
Bullet Points
- Bybit, a cryptocurrency exchange, has launched a Mastercard-powered debit card that allows users to pay for goods and services with their cryptocurrency holdings.
- The card operates on the Mastercard network and allows for fiat-based transactions by debiting cryptocurrency balances when used to pay for goods and services.
Source: (https://www.tradingview.com/news/cointelegraph:c
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