Bybit Pay Launches In Brazil To Bridge Crypto and Fiat, Here’s All
Highlights
- Bybit Pay integrates with Brazil's PIX system, enabling seamless fiat and crypto payments via QR codes for verified users.
- The platform supports multi-currency transactions, including BRL, BTC, ETH, USDT, and USDC, across websites and POS systems.
- Bybit Pay offers blockchain-backed security and access to Bybit's global user base of 60 million merchants in Brazil.
The Brazilian market now offers Bybit Pay through Bybit crypto exchange. Users can perform instant transactions between Brazilian fiat currency and crypto through the integration with PIX payment system. The launch underscores the exchange strategy to unify traditional and digital payment systems, catering to the growing demand.
Bybit Pay Goes Live in Brazil Offering Crypto Payment Services
According to a recent press release, Bybit Pay is now operational in Brazil, introducing a streamlined payment system compatible with PIX. Customers who pass verification can make payments in QR code format using both digital currency and fiat money.
Bybit Pay supports multiple currencies, including Brazilian reais (BRL) and popular cryptos such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC). The platform is accessible through the Bybit app and website, enhancing financial flexibility for users in Brazil.
Moreover, the Sales and Marketing Director at Bybit, Joan Han added,
“Bybit Pay is designed to bridge traditional and digital payments effortlessly. By leveraging PIX QR codes and multi-currency support, Bybit Pay offers a seamless, secure, and flexible solution tailored to the evolving needs of our users.”
However, this expansion comes barely a month after the exchange announced it would cease withdrawals and custodial services in France citing regulatory hurdles.
Enhanced Payment Capabilities With Blockchain Security
The integration of Bybit Pay with PIX offers users a seamless way to manage funds across traditional and digital systems. The platform combines fiat and cryptocurrency wallet functionality, allowing users to perform deposits, withdrawals, and payments.
Additionally, Bybit Pay ensures blockchain-backed security, providing encrypted, tamper-proof transactions. This system maintains user privacy and transparency while facilitating secure payments, positioning Bybit Pay as a tool for financial activities.
Merchants Gain Access to Global User Base
Moreover, Bybit Pay benefits merchants by enabling them accept payments from the top crypto exchange network of over 60 million users. This integration broadens their customer reach while offering an integrated fiat-crypto payment experience.
Merchants can leverage Bybit Pay to attract tech-savvy consumers seeking flexible payment options. The platform’s compatibility with PIX further ensures its relevance in Brazil’s growing digital finance ecosystem.
To mark the launch, Bybit is running a campaign for Brazilian users from January 27 to February 28, 2025. Eligible participants who deposit $100 or more and complete payments using PIX QR codes can earn cashback rewards in USDT.
Weekly, 100 participants will receive up to 100 USDT in cashback, incentivizing early adoption of Bybit Pay. This campaign reflects a commitment to supporting users and widespread adoption in Brazil.
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