Byit Launches Bybit Pay to Facilitate Crypto and Fiat Payments

Pangang Making a grab for the acquisition of Crypto Paystream in Brazil with its new payment solution.

As of Monday (January 27) Press Releasethe Bybit Pay solution that lives in Brazil and works with Brazilians Piik Instant payment system developed by the Central Bank of Brazil. This move allows users to make payments in both currency and cryptocurrency.

Bybit Pay allows users to connect their crypto wallets for transactions across websites, mobile applications and point-of-sale systems, offering an interface for deposits, withdrawals and payments, the release said. The platform supports payments in Brazilian reais (BRL) and cryptocurrencies such as bitcoin, ethereum, tether (USDT) and USD Coin. It is available to verified users in Brazil through the Bybit App and Website.

According to the release, PIX integration allows users to scan QR CODES for payment. Bybit Pay offers instant payments while maintaining blockchain-backed Secure encryption, the release added.

The platform also benefits merchants, the company says, by enabling them to accept payments from Byit’s entire base of more than 60 million individuals. It expands their customer base while offering an integrated fiat-crypto payment experience.

The launch of Bybit Pay will also align with Latin America’s Growing Adoption of Digital Financial technologies and, in particular, the emergence of Brazil as a digital banking and payment superpower. As found Pymts intelligence in “How the world goes Digital: a global benchmark on consumer digital transformation,“Brazil lead the world in its digital standards.

“Brazil’s adoption of the concept of Digital Finance makes it the ideal market for this launch,” Bybit Sales and Marketing Director Joan Han commented in a statement.

In 2023, Pymts is ranked by Bybit as the No. 2 Crypto App Overall (only behind binase), based on downloads, number of users, average time spent on the app, number of user sessions and platflatch Secrits.