Bybit has rolled out a cross-border payment feature called Send Money that utilizes blockchain infrastructure to process transfers while delivering funds in local fiat currencies. The service initially supports USD and Argentine peso transactions in Argentina, with the exchange positioned as the second-largest globally by trading volume.
The payment solution routes transactions through crypto rails in the background while presenting a traditional currency experience to users. Transfers typically settle within minutes to a few hours according to the company. Argentine peso transfers carry no transaction fees, ensuring recipients receive the full amount sent, while USD transfers are supported at competitive rates.
The process involves four simple steps: entering recipient details in Bybit Pay, specifying transfer amounts, reviewing pricing information, and confirmation. Recipients can spend Argentine pesos directly via QR codes at supported merchants or withdraw to local bank accounts. While eligible transfers are facilitated at zero fees, foreign exchange spreads may still apply.
