Bybit Launches Mastercard-Compatible Debit Card for Crypto Purchases
Bybit has launched a new debit card that can be used on the Mastercard network, allowing customers to make purchases by deducting their cryptocurrency holdings.
The introduction of Bybit’s virtual and physical debit card offerings follows the announcement that the exchange will no longer accept bank transactions in U.S. dollars.
The virtual card is free and can be used for online purchases, while the physical card will be available in April.
Clients in Europe and the United Kingdom who complete the necessary KYC/AML processes will be able to access the card, which supports BTC, ETH, USDT, USDC, and XRP.
Customers can directly debit funds from their cryptocurrency wallets and will receive plastic cards in the mail that can be used at any ATM or merchant worldwide.
READ MORE: Bitcoin: Analyst Shares Price Target for Next Bull Market
Bybit’s decision to halt dollar deposits and withdrawals was due to “service outages,” and customers are being asked to complete any outstanding wire withdrawals of U.S. dollars by March 10.
Despite rumors that Mastercard and Visa have delayed plans to expand into the cryptocurrency market due to concerns about its long-term viability, both companies are still making progress toward doing business in the industry.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
