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<ul><li>Bybit partners with Mastercard to introduce crypto payments debit card.</li><li>Bybit temporarily suspended US Dollar bank transfers.</li></ul>The world’s significant crypto exchange, Bybit, <a href="https://announcements.bybit.com/en-US/article/introducing-bybit-card-take-your-crypto-on-the-go-bltfa20750c9483ada4/?channel&#61;pr_&amp;sa_utm_channel&#61;pr_&amp;medium&#61;organic_social&amp;utm_medium&#61;organic_social&amp;source&#61;twitter&amp;utm_source&#61;twitter&amp;sa_utm_ci&#61;432&amp;adj_t&#61;36g2buv&amp;adj_adgroup&#61;pro&amp;adj_creative&#61;en-US&amp;dtpid&#61;16780805874581347&amp;sa_utm_tcn&#61;16780805874581347&amp;adj_campaign&#61;bybitcardgtm_16780805874581347&amp;campaign&#61;bybitcardgtm_16780805874581347&amp;adj_label&#61;%7Bchannel%3Dpr_%26sa_utm_channel%3Dpr_%26medium%3Dorganic_social%26utm_medium%3Dorganic_social%26source%3Dtwitter%26utm_source%3Dtwitter%26sa_utm_ci%3D432%26dtpid%3D16780805874581347%26sa_utm_tcn%3D16780805874581347%26adj_campaign%3Dbybitcardgtm_16780805874581347%26campaign%3Dbybitcardgtm_16780805874581347%7D" rel="noopener noreferrer nofollow">revealed</a> the launch of the “Bybit Card”. The debit card allows users to make payments and withdraw cash using cryptocurrency holdings. And is powered by the world’s second credit card giant, Mastercard network, and issued by Moorwand, a London-based payments solutions provider.Bybit co-founder and CEO Ben Zhou stated;<blockquote>By launching Bybit Card, we are creating a full 360-degree journey for our users, offering next level reliability, products, and opportunities. We are confident that these innovative payment solutions will improve people’s lives and are a step towards a brighter future for crypto and finance.</blockquote>The announcement comes a week after the payment giants Mastercard and Visa declared that they paused new partnerships with the cryptocurrency firms in the wake of the crypto market meltdown. Also, on the 4th of March, the Dubai-based cryptocurrency exchange <a href="https://thenewscrypto.com/crypto-exchange-bybit-halts-usd-deposits-via-bank-transfer/" rel="noopener noreferrer nofollow">Bybit temporarily halted US Dollar</a> bank transfers due to the liquidity challenge worry led by  Silvergate bank.<h3 id="virtual-bybit-card">Virtual Bybit Card</h3>However, Bybit’s new “crypto debit card”, enables fiat-based transactions. And cryptocurrency HODLers will be able to avoid off-ramp providers and other middlemen. The platform initially supports the cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Tether (USDT).A virtual <a href="https://thenewscrypto.com/tag/bybit/" rel="noopener noreferrer nofollow">Bybit card</a> would be accepted by more than 90 million merchants worldwide. Further, depending on the user’s country of residency, payments will immediately convert the balances of these initial cryptocurrencies into euros or pounds. It’s important to note that Bybit Card will be accessible to users residing in the European region and the United Kingdom.

Bybit Launches Mastercard Powered Crypto Debit Card

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TheNewsCrypto

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