Bybit has rolled out a new payments integration in Peru, linking Bybit Pay with the country’s two largest digital wallets, Yape and Plin.
The move allows users to spend cryptocurrency for everyday transactions across platforms that collectively reach around 28 million users nationwide.
The integration enables Peruvian users to use their crypto holdings directly within familiar payment flows. Rather than introducing a new system, Bybit Pay plugs into existing Yape and Plin infrastructure, allowing crypto-backed payments at merchants that already support these wallets.
How the Integration Works for Users
The service introduces several payment options designed to mirror how locals already transact. Users can scan existing Yape QR codes at participating merchants to complete instant payments backed by their crypto balances. For peer-to-peer transfers, Plin enables payments using only a phone number, again drawing value from digital assets held on Bybit.
At the point of sale, supported cryptocurrencies including BTC, ETH, USDT, and USDC are automatically converted into Peruvian sol (PEN). This conversion happens seamlessly in the background, ensuring merchants receive local currency without needing to interact with crypto directly. Payments can be made both in physical retail locations and across e-commerce platforms throughout Peru.
Incentives Aimed at Driving Early Adoption
To accelerate uptake, Bybit Pay is offering targeted incentives for the Peruvian launch. New users receive a 50% discount coupon on their first payment made via QR code or phone-number transfer. Existing users are eligible for cashback ranging from 2% to 10% on each transaction completed through the integrated payment methods.
These rewards are structured to encourage both first-time usage and repeated transactions, particularly in everyday spending scenarios rather than one-off purchases.
The Peru rollout represents another step in Bybit’s expansion across Latin America. The company has already introduced similar payment integrations in Brazil and Argentina, and the Peru launch follows the same model of embedding crypto payments into widely used local financial apps rather than building standalone tools.