Core Insights - Bybit Pay has reached an agreement to enable crypto payments through Yape and Plin, which are the most widely used digital wallets in Peru, serving approximately 28 million users and handling nearly 90% of in-person digital wallet transactions in the country in 2024 [1] Group 1: Bybit's Expansion in Latin America - The partnership with Yape and Plin is part of Bybit's broader strategy to expand its presence in Latin America, following previous collaborations in Brazil and Argentina [2] - Bybit's payment services already support Brazil's instant payment system, PIX, and other major exchanges like Binance and Opera's MiniPay are also targeting the region [2] Group 2: Payment Integration and Functionality - Bybit Pay's integration allows users to spend stablecoins such as USDT and USDC, as well as major cryptocurrencies like Bitcoin (BTC) and Ether (ETH), with transactions settling in Peruvian soles for the recipient [3] - Other platforms facilitating similar payments include KuCoin Pay, Bitget Wallet, and Ramp, indicating a growing trend of crypto neobanks gaining adoption due to local payment mechanisms and crypto-backed debit and credit cards [4] Group 3: Future Developments - Bybit's other payment product, Bybit Card, is set to launch in Peru in the first half of the year, with plans for expansion to other countries in the region later on [5]

Overview - The report focuses on the evolution of crypto neobanks and their potential to transform fundamental relationships with money [1] - The report is an exclusive piece on "DeFiBanking" within the crypto neobank space [1] Key Themes - Crypto neobanks, similar to fintech neobanks, are changing how individuals interact with money [1] - The report is a result of collaborative brainstorming on the future landscape of crypto neobanks [1]

Crypto NeobanksJack (@Jack55750):Sam explains why Crypto companies are racing to build the biggest Neobank product“It’s a generational trade, I’m incredibly bullish on whoever wins the neobank race. Neobanks are just the financializatoin of the internet, it makes sense to build on crypto rails” https://t.co/b45kPIiJzG ...