Popular crypto exchange Bybit, has introduced a new method for users in Argentina to make transactions with a Bybit card.
Bybit, a cryptocurrency exchange that garnered 33 million users, has established a strong presence in Argentina by introducing the Bybit Card. This launch allows users in the region to seamlessly utilize digital assets in everyday transactions while enhancing security and convenience.
Over the past few years, the cryptocurrency industry in Argentina has experienced substantial growth, attracting investors and enterprises. According to Chainalysis, it is one of three nations that comprise the top 20 of the Global Crypto Adoption Index. Joan Han, Sales and Marketing Director of Bybit, responds to the region’s debut:
“The rapid proliferation of digital assets in Argentina has necessitated the development of innovative solutions that enhance financial inclusion and accessibility.” We are delighted to announce the introduction of the Bybit Card to Argentina, which offers our customers a unique opportunity to capitalize on the growth of digital assets and enjoy the convenience of routine spending.
Details of the Launch
As stated in the announcement, the Dubai-based trading platform commemorates this milestone by providing welcome bundles to Bybit Card users. An incentive of 10,000 Argentine Pesos (ARS) will be awarded to new applicants for the Bybit Card. Furthermore, they are eligible for a rebate of up to 10% on all their expenditures.
Additionally, existing cardholders who connect their card to popular local payment platforms such as Mercado Pago will receive an additional 10% cashback on each purchase made with the Bybit Card.
In March 2023, Bybit partnered with Mastercard to introduce the Bybit Crypto Card. The launch of virtual cards for online purchasing in European countries marked the commencement of the rollout. The exchange intends to expand this offering to offer consumers various options for managing their digital assets.
Last month, Bybit Card implemented Apple Pay support, which enables users to effortlessly acquire crypto assets on their iPhone, iPad, and Mac.
Bybit’s Success Story
Bybit has lately become the second-largest cryptocurrency exchange in the world by trading volume, trailing behind Binance. This occurred after the collapse of the once-dominant exchange FTX in 2022. Bybit has doubled its market share to 16% since October 2023, surpassing Coinbase, its competitor, in March.
To broaden its services and offerings, Bybit has been engaged in international activities. In June, it sponsored two significant events in Switzerland, coinciding with the evolving regulatory framework for Markets in Crypto-Assets (MiCA).
Oracle Red Bull Racing, the Formula One champion, has also partnered with the exchange to establish a connection between crypto investors and sports enthusiasts.