Bybit launches Mastercard-backed payment card in Georgia

Bybit has rolled out its payment card in Georgia. People in the country can now use their digital currency at stores that take Mastercard.

The company ranks as the world’s second-largest crypto exchange based on trading volume. The card works wherever Mastercard is accepted, though some rules and location limits apply.

Industry officials welcome the launch

Tekla Iashagashvili runs Bybit’s operations in Georgia. She said the country has become one of the busiest markets in the area. “This launch makes it easier than ever for people to use their digital assets in everyday life, with the security, flexibility, and rewards that Bybit is known for,” Iashagashvili said.

David Zgudadze is vice president for Mastercard in Georgia and Armenia. He called the card launch another key move for digital payments. “Mastercard constantly supports innovations that enable consumers to use crypto assets safely and easily in everyday payments. Such partnerships strengthen the financial ecosystem and promote technological progress in the country,” Zgudadze said.

The card adds to Bybit’s other payment options in the region. Users can spend their crypto on regular daily purchases.

Card features and cashback rewards

People who get approved can access a virtual card right away. It works with different types of cryptocurrency and includes EMV 3-D Secure protection. Exchange rates stay competitive. The card gets accepted worldwide. Users can connect it to Google Pay and similar digital wallets for tap-to-pay transactions where that’s available. A plastic card can be ordered too, depending on availability.

To accompany the launch, Bybit set up a cashback program. 10% off purchases is given to eligible cardholders. Up to $150 in USD equivalent can be earned by new users. Up to $75 is available to current users. But there’s a catch. After being accepted, applicants must deposit at least $100 USD within 30 days.

Participation is limited to those who have completed either Business Verification or Individual Identity Verification Level 1. Only cryptocurrency payments are eligible for the cashback. Money transferred to holding accounts, e-wallets, or prepaid wallets is not eligible.

Sophie Chen leads marketing for Bybit’s payment division. She said the company wants to give users easy, safe, and rewarding ways to pay with crypto. “Expanding the Bybit Card to Georgia reinforces our commitment to bridging the gap between digital assets and everyday spending, ensuring more people can access the benefits of modern financial innovation,” Chen said.

Salim Dhanani is CEO and co-founder of Pave Bank. He called the card launch a big step for Georgia’s digital money sector.

“Pave Bank is proud to support this initiative by enabling compliant banking infrastructure and payments connectivity. This partnership reflects our commitment to fostering innovation, supporting the regulated adoption of digital assets, and connecting global fintech solutions with the Georgian market,” Dhanani said.

The card comes as a virtual version first. That means quick access after approval. A physical version can be requested for broader use. It lets people spend crypto at good rates with full Mastercard acceptance worldwide.

The Georgia launch fits into Bybit’s wider goal of creating financial tools that connect cryptocurrency with regular spending. More information is on the company’s website.

If you're reading this, you’re already ahead. Stay there with our newsletter.