- It allows you to pay in stores and cash out crypto at ATMs.
- The card is linked to the account on the exchange
Crypto exchange Bybit and Mastercard have offered a virtual ICYMI debit card. It will be accepted by all outlets working with the payment giant (today their number has exceeded 90 million).
Also, customers will be able to convert cryptocurrency into fiat and cash out at ATMs. The card is linked to the customer’s Bybit account.
Initially, the card balance is replenished with the most popular cryptocurrencies: BTC, ETH, #SDT, USDC and XRP. Later the company promises to expand this list. And also introduce a loyalty and cashback program.
How to get a card
The virtual card is available in Europe and the UK. To apply, you need to be a Bybit customer, complete KYC/AML verification, set up two-factor authentication, and link your phone.
So, clients need to submit application and wait for it to be approved. The card can then be used immediately (it does not need to be activated).
Card issuance is free. The commission for foreign currency exchange will be 0.5% (plus commissions in the Mastercard network).
The next step is issuing a physical Bybit card, opening a loyalty program, and integrating with Apple Pay/Google Pay.
Recall that stock exchanges in Ukraine have suspended work with bank cards. So it will be possible to withdraw deposits through P2P and other non-banking methods.