Bybit Expands Remittance Capabilities With Fiat-Friendly Blockchain Transfers For Global Users
In Brief
Bybit launches “Send Money,” enabling fast, low-cost cross-border transfers via blockchain while delivering funds to recipients in local fiat currencies.
Cryptocurrency exchange Bybit introduced a new payment feature aimed at improving cross-border transfers for its global user base. The solution, known as Send Money, allows users to transfer funds using blockchain infrastructure while enabling recipients to receive payments in their local fiat currency, combining digital asset efficiency with traditional financial usability.
The feature is designed to operate through crypto-based rails in the background while presenting a familiar fiat-focused experience to users. Transfers are typically completed within minutes to a few hours, depending on the transaction. At present, the service supports U.S. dollar and Argentine peso transfers, along with selected cryptocurrency transactions for eligible users in Argentina, facilitated through the Bybit Pay system.
Streamlining Remittances Through Blockchain-Backed Infrastructure
The offering seeks to address common inefficiencies in remittance services, including high fees and slow processing times. Transfers in Argentine pesos are processed without transaction fees, ensuring that recipients receive the full amount sent, while U.S. dollar transfers are provided at relatively low cost. Funds are delivered directly into recipients’ Bybit Funding Accounts, where they can be used for payments or withdrawn through available off-ramp options.
According to the company, the feature is intended to simplify the transfer process, allowing users to complete transactions by selecting a recipient, entering the transfer amount, reviewing pricing details, and confirming the payment. Recipients can then access their funds and, in supported regions, use them for everyday payments or transfer them to local bank accounts.
The launch reflects a broader effort to expand access to financial services by integrating blockchain technology into conventional payment systems. Bybit indicated that the initiative is part of its ongoing strategy to bridge the gap between digital assets and traditional finance, while improving accessibility for users who may not be familiar with cryptocurrencies.
The company noted that while certain transfers are offered with zero fees, foreign exchange spreads may still apply, and eligibility requirements depend on user location and regulatory conditions. The introduction of Send Money highlights continued industry efforts to enhance financial inclusion and streamline global payment infrastructure through blockchain-based solutions.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
