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Bybit Pay links with digital wallets Yape, Plin to offer crypto payments in Peru
Yahoo Finance· 2026-01-14 15:15
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]
Bybit Pay’s Sri Lanka Launch Could Trigger South Asian Crypto Payment Revolution – Here’s Why
Yahoo Finance· 2025-11-05 11:17
Core Insights - Bybit Pay has launched in Sri Lanka, activating 100 merchants, including 50 physical point-of-sale systems and 50 digital integrations, to tap into the growing interest in digital payments [1][7] - Sri Lanka's high mobile penetration rate of over 130% and rapid digital adoption present a promising environment for crypto-enabled commerce [2][7] - The launch occurs despite the unregulated status of cryptocurrency in Sri Lanka, indicating a rising interest in alternative digital payment methods [4][7] Company Initiatives - Bybit Pay partners with Ceylon Cash through its CeyPay platform to connect Sri Lankan businesses to a global network of digital asset payments [1] - The platform allows merchants to accept digital assets easily, with settlement options available in both crypto and fiat [3] - Key features of Bybit Pay include instant proof-of-payment, ultra-fast settlement, and lower transaction costs compared to traditional systems [4] Market Context - The resurgence of tourism and local demand for faster, cheaper payment methods create an opportunity for Bybit to offer practical alternatives to traditional financial systems [2][7] - The combination of tech-savvy consumers and a diverse merchant landscape in Sri Lanka is conducive to the adoption of crypto payments [3]