{"id":560057,"date":"2023-03-06T14:34:09","date_gmt":"2023-03-06T11:34:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bybit-introduces-mastercard-powered-debit-card-days-after-halting-usd-transfers\/"},"modified":"2023-03-06T14:34:09","modified_gmt":"2023-03-06T11:34:09","slug":"bybit-introduces-mastercard-powered-debit-card-days-after-halting-usd-transfers","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bybit-introduces-mastercard-powered-debit-card-days-after-halting-usd-transfers\/","title":{"rendered":"# Bybit introduces Mastercard-powered debit card days after halting USD transfers"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a33b12588a2f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a33b12588a2f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bybit-introduces-mastercard-powered-debit-card-days-after-halting-usd-transfers\/#%E2%80%9D_Bybit_introduces_Mastercard-powered_debit_card_days_after_halting_USD_transfers_%E2%80%9C\" >&#8221; Bybit introduces Mastercard-powered debit card days after halting USD transfers  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bybit_introduces_Mastercard-powered_debit_card_days_after_halting_USD_transfers_%E2%80%9C\"><\/span>&#8221; Bybit introduces Mastercard-powered debit card days after halting USD transfers  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Bybit is set to launch a new debit card offering that will allow users to make payments and withdraw cash using cryptocurrency holdings.<\/p>\n<p>The Bybit Card will operate on the Mastercard network and will allow for fiat-based transactions by debiting cryptocurrency balances when used to pay for goods and services. The service begins with the launch of a free virtual card for online purchases, while physical debit cards are set to be available in April 2023.<\/p>\n<p>The service will work with Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC) and Ripple (XRP) balances on user accounts. Payments will automatically convert the balances of these initial cryptocurrencies into euros or pounds, depending on a user\u2019s country of residence.<\/p>\n<p>ATM withdrawals and global payments will be limited to aggregated cryptocurrency holdings of a user\u2019s Bybit account. The cards are issued by London-based payments solutions provider Moorwand.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/329dc5a4-8f65-402f-97c6-bedf395a6a0a.jpeg\"><\/figure>\n<p>The roll-out of Bybit\u2019s virtual and physical debit card offering comes days after the Dubai-based exchange announced that it would be halting U.S. dollar bank transfers. The suspension of dollar deposits and withdrawals was pinned on \u2018service outages\u2019 by one of its processing partners.<\/p>\n<p>Bybit users can continue to make USD deposits using Advcash Wallet or with credit cards, while users were urged to carry out any pending U.S. dollar wire withdrawals by March 10.<\/p>\n<p><strong><em>Related:\u00a0Credit cards can bridge Web2 to Web3, says music industry exec<\/em><\/strong><\/p>\n<p>United States-based crypto exchanges and businesses were affected when Silvergate Bank announced the discontinuation of its digital assets payment network on March 4. <\/p>\n<p>Meanwhile a report at the end of February 2023 suggests that both Mastercard and Visa would hold off on announcing or embarking on further direct partnerships with the cryptocurrency and blockchain industry.<\/p>\n<p>Mastercard has been exploring payment options in USDC\u00a0through new partnerships while Visa has hinted at plans to allow customers to convert cryptocurrencies into fiat on its platform in 2023.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bybit-introduces-mastercard-powered-debit-card-days-after-halting-usd-transfers\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bybit introduces Mastercard-powered debit card days after halting USD transfers &#8220; Bybit is set to launch a new debit card offering that will allow users to make payments and withdraw cash using cryptocurrency holdings. The Bybit Card will operate on the Mastercard network and will allow for fiat-based transactions by debiting cryptocurrency balances when&#8230;<\/p>\n","protected":false},"author":1,"featured_media":560058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/d7b1ff54-bff4-43e1-88fa-dd9713920b12.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,88082,82369,74860,75854,74891,74355,78807],"class_list":["post-560057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-debit-card","tag-crypto-credit-card","tag-cryptocurrency-exchange","tag-debit-cards","tag-ethereum","tag-adoption","tag-credit-cards"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/560057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=560057"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/560057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/560058"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=560057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=560057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=560057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}