As a researcher with a background in fintech and a particular interest in the cryptocurrency industry, I find Bybit’s expansion into Argentina an exciting development. The launch of the Bybit Card marks a significant step towards financial inclusion and ease of use for digital asset users in the region.
Bybit, a well-known cryptocurrency exchange with over 33 million users, has made its mark in Argentina by introducing the Bybit Card. This new feature enables Argentinian users to easily spend their digital assets in daily purchases while ensuring enhanced security and comfort.
The cryptocurrency sector has experienced substantial expansion in Argentina over the last few years, attracting not only businesses but also investors. As per the Global Crypto Adoption Index by Chainalysis, Argentina is among the three countries ranking highest in this index. In reaction to this development, Joan Han, Sales and Marketing Director of Bybit, comments:
“The rapid growth of digital assets in Argentina has created a demand for innovative methods to enhance financial accessibility and convenience. We are delighted to present the Bybit Card to Argentinian users, offering them an exclusive opportunity to capitalize on the expansion of digital assets and enjoy the simplicity of everyday transactions.”
Launch Details
I’m delighted to share that as part of a significant achievement, the Dubai-based trading platform I work with is extending warm welcomes to new Bybit Card users. For those joining our community, we have prepared enticing welcome packs filled with perks. New applicants will receive a generous bonus of 10,000 Argentine Pesos (ARS). Furthermore, they can enjoy up to 10% cashback on every expense they incur using their Bybit Card.
Furthermore, by connecting their cards to widely used local payment systems such as Mercado Pago, our current cardholders will be rewarded with a 10% cashback bonus on all transactions processed through the Bybit Card.
In March 2023, Bybit collaborated with Mastercard to introduce its new Bybit Crypto Card. The launch commenced with the availability of virtual cards for European customers to use in online purchases. Bybit intends to expand this service, aiming to offer users more flexible methods for handling their digital currencies.
Recently, Apple Pay has been added as an option for making cryptocurrency purchases through Bybit Card, enabling users to quickly and conveniently buy digital assets on their iPhone, iPad, or Mac devices.
Bybit’s Success Story
In the current scenario, Bybit has emerged as the second largest cryptocurrency trading platform globally, with Binance still holding the top position. This shift came about following the collapse of FTX in 2022. Since October 2023, Bybit’s market share has experienced a significant growth and has more than doubled to reach 16%. Consequently, it surpassed Coinbase as a major player in the market in March.
Since June, Bybit has been actively participating in global initiatives to broaden its product line and provide more services. During this period, it sponsored two significant events in Switzerland as the MiCA regulatory landscape continued to evolve.
The collaboration between The Exchange and Oracle Red Bull Racing, the Formula One champions, serves to link crypto investors with sports fans.
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2024-07-09 18:07