TLDR:
- Bybit Pay integrates with Yape and Plin, covering 90% of digital transactions in Peru.
- Users can pay with USDT, BTC, and ETH via QR code scanning or mobile numbers.
- The platform plans to launch the Bybit Card in the Peruvian market during the first half of the year.
Bybit Pay announced a partnership with two of Peru’s most important digital wallets, Yape and Plin, joining forces to massify crypto payments in Peru. Thanks to this alliance, millions of users will be able to use their digital assets in the real economy immediately.
Between the two wallets, they surpassed 28 million users in 2024; in fact, they process at least 90% of the in-person digital operations executed in Peru. With this powerful infrastructure, Bybit seeks to replicate the success achieved in markets where they already operate with local systems like Pix, including Argentina and Brazil.
How Crypto Payments via Yape and Plin Work
The service’s operation is simple, and its design allows for mass adoption. Bybit users will be able to directly spend assets such as Bitcoin (BTC), Ether (ETH), and stablecoins (USDT and USDC). Customers only need to scan a Yape QR code or send a message to a phone number linked to Plin from the application; the system performs an automatic conversion, and the recipient receives the payment in Peruvian soles.
Making crypto payments in Peru is not a new trend. It is part of a regional phenomenon where neobanks and exchanges are gaining ground by offering solutions that combine decentralized finance with traditional payment rails. Notably, similar platforms processed more than $120 million in card payments globally last month.
Bybit LATAM CEO Patricio Mesri confirmed that the expansion does not stop here. He added that they expect to launch the Bybit Card in Peruvian territory by mid-year. This is a debit card that will further facilitate the use of digital assets. With this rollout, the company seeks to consolidate crypto payments in Peru as a viable, secure, and everyday alternative to traditional banking.
