Despite gossip concerning a possible break from cryptocurrencies, Mastercard has kept dancing to the beat of blockchain and its technologies. This recent partnership with Bybit – a Dubai-based cryptocurrency platform – proves that this relationship will only continue to blossom.
Bybit is Physical Crypto Card Is Coming in April 2023
Mastercard is excited to announce the launch of its new crypto card, allowing users to make payments and withdrawals with popular cryptocurrencies such as BTC, ETH, USDT, USDC, and XRP. The virtual card will be available immediately for online purchases, with a physical version anticipated by April 2023, issued from London-based Moorwand! This revolutionary system enables swift transactions without tedious currency conversions or hefty exchange fees – making your money work harder for you.
The collaboration between the two entities is especially timely, as disruptions among its partners forced Bybit to temporarily cease USD transfers via bank transfer until March 10. To ensure that users can still access their funds and make deposits, Bybit announced on Twitter: “We’re pleased to notify you of the continued availability of our one-click purchase page and Advcash wallet services for making USD payments.” This partnership provides a valuable support network in times when other means are not available, ultimately creating an accessible solution during this difficult time.
Crypto Cards are a Good Adaptation Method for Exchanges
Confronted with the tumultuous impacts of Genesis, Bybit has been striving to reassure its users concerning the safety of their finances. Still, this crypto winter is not kind to any cryptocurrency platform – including Bybit, which had to lay off a significant portion during this time.
With ever-growing regulatory pressure mounting up on them, it’s no surprise that they are not alone in making such decisions: In February, Binance followed suit and temporarily suspended bank transfers denominated in US dollars while Mastercard continued paving the way for Web 3 initiatives by launching a crypto card specially designed for Web 3 users.
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