Bybit, a crypto exchange from Singapore, is about to release its new crypto debit card, allowing users to use their cryptocurrency holdings to make purchases. This new debit card will work off the Mastercard network and permit fiat-based transactions by debiting crypto balances when paying for products.
This latest service will go live in April 2023, and customers can pay with Bitcoin, Ether, Tether, USD Coin, and XRP balances on user accounts. When using this new service, the Bybit card will automatically convert the crypto balances into either Euros or Pounds, depending on the user's country of residence.
Along with that, Bybit will offer users the option of ATM withdrawals and even global payments; the only condition is that this will be limited to the aggregated cryptocurrency holdings of a user's account. This announcement is a giant leap in cryptocurrencies finding their way into everyday life and real-world applications; it should be interesting to see what the future holds.
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