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Bybit, the third most popular cryptocurrency exchange, announced the launch of a debit card issued by Moorwand and powered by Mastercard.
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According to a March 6 press release, users can easily switch from cryptocurrency to fiat and withdraw cash from ATMs with this card.
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Bybit Card allows consumers to bypass intermediaries and other off-ramps providers by making direct payments using their cryptocurrency holdings.
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This service will be available to clients in the UK and Europe who have passed the KYC and AML requirements.
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The Bybit Card will support a core set of cryptocurrencies upon launch. This includes BTC, ETH, and USDT.
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In the future, more cryptocurrencies will be supported.
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If a payment is required, the client's balance in digital assets will be converted immediately into Euros or British Pounds, depending on their location.
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