Dubai, UAE – Bybit, identified as the world’s second-largest cryptocurrency exchange by trading volume, has announced the global rollout of its crypto payment solution, Bybit Pay.
After an initial debut in Brazil, the service is now available to eligible users worldwide, aiming to simplify daily crypto spending and transactions.
The launch of Bybit Pay marks a significant step in crypto innovation, enabling users to make payments across a global network of merchants, both online and offline, without needing traditional financial intermediaries or physical cards.
All that is required is a compatible mobile device.
According to the announcement from Bybit, the service has already recorded over 40,000 transactions in the few days since its global availability.
Bybit Pay currently supports 15 major cryptocurrencies, including widely used assets like USDT, USDC, BTC, ETH, XRP, MNT, BNB, and TON.
New features “Send” and “Receive” have also been released within Bybit Pay:
- Bybit Pay Send: Allows instant transfers of digital assets to individuals or businesses using just the recipient’s email address, phone number, or Bybit User ID through the Bybit app or website.
- Bybit Pay Receive: Enables users to get paid easily using a unique personal QR code that can be tailored for specific amounts or currencies.
The Bybit Pay platform integrates wallet management for both fiat and crypto balances. Bybit states that the system is built with blockchain-backed security and employs on-chain encryption to ensure transactions are tamper-proof and user privacy is optimized.
Leveraging the speed of cryptocurrency transactions, Bybit Pay aims to provide a seamless and secure experience for sending and receiving digital assets.
To celebrate the global launch, eligible users can register for a “Bybit Send & Earn” promotion running until May 30, with a total prize pool of 100,000 USDT available to be shared.
Krista Chan, Head of Marketing for the Payment Business Unit at Bybit, stated that Bybit is “proud to play a role in advancing payment innovation” with the global launch. She added that the service provides users with an “ultra user-friendly solution” for daily crypto needs while helping Bybit serve a broader community and bring “more payment freedom and convenience to the underbanked.”
Bybit Pay is currently available to global users who have successfully completed Identity Verification on the Bybit platform.
The service is not currently supported for users from Service Restricted Countries or local Bybit entities.
Founded in 2018, Bybit is a global cryptocurrency exchange serving a large user community. The company is focused on creating an open and equal ecosystem in the decentralized world, with a strategic emphasis on Web3.
Bybit aims to bridge traditional finance and decentralized finance by providing secure custody, diverse marketplaces, and advanced blockchain tools for users and developers.
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