Bybit has launched its new payment feature, Bybit Pay, offering 50% cashback in Argentina and Brazil as announced at Web Summit Rio 2025.
This initiative aims to integrate cryptocurrencies into daily transactions in Latin America, enhancing adoption and utility while promoting secure, borderless payment solutions.
50% Cashback Launched by Bybit in LATAM Markets
Bybit announced the launch of Bybit Pay featuring a substantial 50% cashback incentive in both Argentina and Brazil. The introduction took place at the Web Summit Rio 2025, underscoring its strategic plan to foster crypto adoption.
Israel Buzaym, Bybit’s Country Manager for Brazil, emphasized that younger generations in Latin America are gravitating towards crypto, highlighting efforts to make crypto payments instant and secure. Bybit Pay integrates with Brazil’s PIX system for easier transactions.
Responses to Bybit’s Launch and Expected Changes
The launch of Bybit Pay is expected to revolutionize day-to-day financial transactions in Argentina and Brazil. The 50% cashback is likely to appeal to consumers and merchants alike, facilitating broader adoption in these burgeoning markets.
The integration of cryptocurrencies like BTC, ETH, USDT, and USDC into local payment systems may reshape financial activities, seamlessly bridging fiat and crypto ecosystems. However, no specific regulatory feedback has emerged from financial authorities.
Bybit Strategy Echoes Successful Crypto Initiatives
Bybit Pay’s expansion mirrors previous initiatives by Binance Pay and Mercado Pago in Latin America. These programs generated robust crypto transactional volumes and improved merchant acceptance, setting a positive precedent for Bybit.
Analysts anticipate that Bybit’s cashback incentive could replicate past successes experienced by similar platforms. However, without integrated DeFi protocols, the impact on token valuations remains uncertain, focusing more on immediate usability than speculative value.
“Crypto is becoming a way of life for the younger generation in Latin America. Our goal is to build a world where paying, sending, and investing in digital assets is instant, secure, and borderless. What we’re developing today will empower millions to seamlessly integrate crypto into their daily lives both on-chain and in the real world.” – Israel Buzaym, Country Manager for Brazil, Bybit, Web Summit Rio 2025
| Disclaimer: This website provides information only and is not financial advice. Cryptocurrency investments are risky. We do not guarantee accuracy and are not liable for losses. Conduct your own research before investing. |
