Bybit to launch MasterCard debit card, allowing users to pay with cryptocurrencies

Crypto exchange Bybit will launch a MasterCard debit card, allowing users to use cryptocurrencies to buy goods or services and withdraw cash. The card will run on the MasterCard network, and when used to pay for goods and services, debit cryptocurrency balances for fiat-based transactions. Bybit plans to launch a free virtual card for online shopping first, while physical debit cards will be available in 2023. Available April. Among other things, the service will be paid using the balance of Bitcoin, Ethereum, USDT, USDC, XRP on the user's account, and the balance of these initial cryptocurrencies will be automatically converted into euros or British pounds at the time of payment, depending on the user's country of residence. ATM withdrawals and global payments will be limited to the total cryptocurrency holdings of users’ Bybit accounts, powered by payment solutions provider Moorwand.