Bybit Expands Its Reach in Brazil with Physical Card Launch and Exclusive Rewards Program

Bybit, a leading cryptocurrency exchange, is making significant strides in the Brazilian market with the launch of its physical Bybit Card. Brazilian users can now pre-register for the card and enjoy free issuance for a limited time, marking a major milestone for the platform’s expansion in the region.

Expanding Beyond Virtual Cards

The physical Bybit Card comes as a follow-up to the successful launch of the virtual Bybit Card in September 2024, which currently serves over 28,000 users in Brazil. Bybit’s entry into the physical card space is designed to make it easier for crypto enthusiasts to spend their digital assets globally, providing a seamless solution for crypto payments as adoption continues to rise in Brazil.

To gain early access to the physical card, users must first apply for a virtual card, get approved, and pre-register for the physical card. Those who sign up during the pre-registration phase will receive the physical card free of charge. In addition, new users who deposit 100 USDT and use the card before the end of 2024 will be rewarded with a 150 BRL bonus.

Gamified Experience with the bbSOL Card

In celebration of its sixth anniversary, Bybit has also introduced the bbSOL virtual card, which adds a gamified element to the Bybit Card experience. The bbSOL card allows users to engage with the Solana blockchain ecosystem, unlocking exclusive perks, rewards, and gaming points. This expansion into the Solana network provides users with more ways to engage financially, offering additional opportunities for growth and financial rewards.

Bybit’s Commitment to Accessible Financial Solutions

Joan Han, Sales and Marketing Director at Bybit, emphasized that the launch of these new card offerings is a part of the company’s broader commitment to providing accessible financial solutions. Han noted Brazil’s growing demand for crypto assets and highlighted Bybit’s goal of simplifying the process of crypto spending for users, whether for daily purchases or international travel.

Bybit’s Growing Market Share

Bybit's strategic moves are paying off. The platform has significantly increased its market share in the cryptocurrency exchange industry, climbing from seventh place with 3.2% market share last year to second place with 8.51% in 2024. This growth comes at the expense of larger competitors like Binance, which has seen a decline in market share. Binance’s spot trading volume dropped from 52.5% in October 2023 to 39.5% in October 2024, further strengthening Bybit’s position as a leading exchange.

Conclusion

Bybit’s launch of the physical card and rewards programs reflects its strategic focus on expanding its user base in Brazil and providing practical, accessible financial solutions for cryptocurrency enthusiasts. With its growing market share and innovative products like the bbSOL card, Bybit is well-positioned to continue its growth in Brazil and beyond, capitalizing on the global shift toward cryptocurrency adoption.