BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Mastercard and Bybit Collaborate to Introduce Crypto Debit Card After USD Transfers Suspended

by BlockNews Team
March 8, 2023
in Business, Crypto, Media, Social
A A
Mastercard and Bybit Collaborate to Introduce Crypto Debit Card After USD Transfers Suspended
1
SHARES
Share on TwitterShare on Reddit
  • In the wake of the US dollar transfer suspension, Mastercard and Bybit launched a crypto debit card
  • The card can deduct crypto holdings from accounts during transactions
  • The launch of the crypto debit card followed after Bybit announced it will no longer accept US dollars for bank transactions

Bybit has unveiled a debit card backed by Mastercard, allowing customers to directly deduct cryptocurrency from their wallets instead of going through exchanges or off-ramp providers. The virtual card is free, and a physical one will be available in April of this year. Clients in eligible countries from Europe and the UK can access it after completing the necessary KYC/AML processes to ensure the accounts are fully secured and away from the purposes of heinous financial acts.

The launch comes just days after Bybit halted US dollar transactions because of “service outages.” Customers were asked to make all outstanding wire withdrawals by March 10. This was preceded by Silvergate Bank announcing at the end of February that it would halt its digital assets payment network after it failed to file its annual 10-K report, raising suspicions of a possible bankruptcy filing.

In addition to Bitcoin, Ethereum, Ripple, Tether, and the US Dollar Coin, more coins are expected to be supported. Using Bybit Card will also facilitate currency conversion from digital assets to fiat money for customers in Europe or UK who request payments at point-of-sale locations.

Visa and Mastercard on Supposed Crypto Support

Rumors have been lingering that payment service giants Visa and Mastercard were supposed to expand their reach to the cryptocurrency world but were put on hold due to concerns about long-term industry viability. However, Mastercard is currently exploring partnerships that allow payments with USDC tokens, while Visa aims for crypto-to-fiat conversions for customers in 2023.

While both companies appear receptive to cryptocurrencies, there are still many questions regarding how they plan to incorporate them into their existing services and whether they will recognize more coins beyond well-known cryptocurrencies like Bitcoin and Ethereum and stablecoins, including Tether and USD Coin. More clarity may come when they announce further details of their partnerships and initiatives in the upcoming months.

Bybit in a Nutshell

Bybit is an online cryptocurrency derivatives trading platform that provides users with an advanced and secure way to trade digital assets in the crypto market. Bybit is dedicated to creating a fair and transparent trading environment for all its users by using the latest technology, providing 24/7 customer support, and providing reliable, stable trades.

Although relatively new compared to some of its major competitors, Bybit has quickly established itself as a leading cryptocurrency derivatives trading platform due to its user-friendly features, intuitive interface, low fees, and fast execution speeds.

Additionally, Bybit has integrated several innovative products, such as multiple order types, margin trading capabilities, and a social copy trading platform, making it stand out among other media on the market. It is also one of the most used crypto exchanges in the Middle Eastern region.

Tags: BusinessBybitCrypto Credit CardCrypto WalletMastercard
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

HYPE Token Surges to All-Time High as Traders Flock to Hyperliquid
Crypto

HYPE Token Surges to All-Time High as Traders Flock to Hyperliquid

May 25, 2025
AVAX Whales Are Waking Up—And They’re Hungry
Crypto

AVAX Whales Are Waking Up—And They’re Hungry

May 25, 2025
Chainlink (LINK) Eyes $19.50 as Momentum Builds — But Will Resistance Hold?
Chainlink

Chainlink (LINK) Eyes $19.50 as Momentum Builds — But Will Resistance Hold?

May 25, 2025
Sui (SUI) At a Crossroads: Can it Break $4.25 Resistance or Face Further Dips?
Crypto

Sui (SUI) At a Crossroads: Can it Break $4.25 Resistance or Face Further Dips?

May 25, 2025
Cardano Eyes $1 as Price Holds Firm Despite Trade Jitters and Market Headwinds
Cardano

Cardano Eyes $1 as Price Holds Firm Despite Trade Jitters and Market Headwinds

May 25, 2025
Franck Muller’s New Solana Watch Is Flashy, Phygital—and Maybe a Bit Risky
Crypto

Franck Muller’s New Solana Watch Is Flashy, Phygital—and Maybe a Bit Risky

May 25, 2025
Load More

Related News

HYPE Token Surges to All-Time High as Traders Flock to Hyperliquid

HYPE Token Surges to All-Time High as Traders Flock to Hyperliquid

May 25, 2025
AVAX Whales Are Waking Up—And They’re Hungry

AVAX Whales Are Waking Up—And They’re Hungry

May 25, 2025
Chainlink (LINK) Eyes $19.50 as Momentum Builds — But Will Resistance Hold?

Chainlink (LINK) Eyes $19.50 as Momentum Builds — But Will Resistance Hold?

May 25, 2025
Sui (SUI) At a Crossroads: Can it Break $4.25 Resistance or Face Further Dips?

Sui (SUI) At a Crossroads: Can it Break $4.25 Resistance or Face Further Dips?

May 25, 2025
Cardano Eyes $1 as Price Holds Firm Despite Trade Jitters and Market Headwinds

Cardano Eyes $1 as Price Holds Firm Despite Trade Jitters and Market Headwinds

May 25, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.