Bybit Targets Argentina with New Debit Card Offering

Cryptocurrency exchange Bybit has rolled out its Mastercard debit card in Argentina, promising convenience and rewards with the new offering. According to a statement by the company today (Tuesday), this service will integrate digital assets with everyday transactions and promote financial inclusivity.

Rapid Growth in Digital Assets

"The introduction of the Bybit Card to Argentina signifies an important milestone for both Bybit and the local community. Argentina's rapid growth in digital assets has created a demand for innovative solutions that enhance financial inclusivity and convenience," said Joan Han, the Sales and Marketing Director of Bybit.

"We are excited to bring the Bybit Card to Argentina, offering our users a unique opportunity to benefit from the growth of digital assets while enjoying the convenience of everyday spending."

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To mark this launch, Bybit is offering a 10,000 ARS card bonus to new users who apply for the Bybit Card. Additionally, users can reportedly receive up to 10% cashback on all their expenses. Existing cardholders can also benefit from an extra 10% cashback when they add their Bybit Card to major local payment platforms like Mercado Pago.

The Bybit Card is created to link digital finance and everyday transactions. Established in 2018, Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving over 33 million users globally.

Bybit Expands Offerings

Recently, Bybit announced that Bybit Card will introduce Apple Pay to its users to enable customers to avoid handing their payment card to someone else, touching physical buttons, or exchanging cash.

According to the exchange, customers can hold their iPhone or Apple Watch near a payment terminal to make a contactless payment. Each transaction is secured by authenticating with Face ID, Touch ID, or device passcode, as well as a one-time security code. Apple Pay is accepted in grocery stores, pharmacies, taxis, restaurants, coffee shops, retail stores, and many more places.

Last month, Bybit surpassed Coinbase to become the second-largest cryptocurrency exchange in terms of volume, according to a report published by Kaiko. The report highlighted that Bybit’s market share surged from 8% in October 2023 to 16% in June 2024, the highest growth rate among the top exchanges.