Bybit has launched a new update that waives foreign exchange fees for Mastercard holders in seven European countries. This service is available for users in Poland, Bulgaria, Croatia, the Czech Republic, Denmark, Sweden, and Hungary.
Waiving FX Fees in Europe
According to the exchange's statement, this offering aims to enhance user experience by offering seamless, cost-effective financial solutions. Effective immediately, Bybit Cardholders can reportedly make purchases in local currencies, PLN, BGN, HRK, CZK, DKK, SEK, and HUF, without incurring the standard 0.5% FX fee.
This update is particularly advantageous for frequent travelers and those conducting business across these regions, as it eliminates the concern of hidden charges, the company mentioned. The Bybit Card offers a range of features designed to make international spending more convenient. Users can withdraw cash from any ATM worldwide that supports Mastercard, providing access to funds regardless of the location.
Additionally, the card offers both virtual and physical options, compatible with Apple Pay and Google Pay, allowing users to make on-the-go payments. Beyond fee-free spending, Bybit Cardholders can also benefit from reward programs. The card reportedly offers a baseline 2% cashback on all purchases, with VIP members enjoying cashback rates of up to 10%.
Bybit Expands Presence
Established in 2018, Bybit has quickly grown to become a major player in the cryptocurrency exchange space, serving over 40 million users globally. The company also sponsors Formula One’s Oracle Red Bull Racing team, further solidifying its presence in the global market.
Recently, Bybit unveiled a new program to offer financial protection to users affected by fraudulent activities on the exchange. Dubbed Bybit P2P Shield, the new service offers financial compensation to eligible users who experience fraud during transactions. The initial rollout is reportedly limited to specific regions, with plans to extend this coverage globally.
Besides that, Bybit recently disclosed its expansion into Latin America. The exchange is registered as a Virtual Asset Service Provider and card operator in Argentina. This initiative reportedly made Bybit one of the first to offer a full range of digital asset services in Argentina.
Argentina's recent rollout of the VASP registry marked a step forward in regulating the country's crypto space. Bybit's registration highlighted its intention to follow local regulations.
This article was written by Jared Kirui at www.financemagnates.com.
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