Bybit launched a cross-border payment feature called Send Money that uses blockchain infrastructure to process transfers while delivering funds in local fiat currencies, starting with support for USD and Argentine peso transactions in Argentina.

Bybit Transfer Details

The exchange, ranked second globally by trading volume, said the service routes payments 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, meaning recipients get the full amount sent. USD transfers are also supported at what the company described as competitive rates.

The process works in four steps: senders enter recipient details in Bybit Pay, specify the amount, review pricing, and confirm. Recipients can then spend Argentine pesos directly via QR codes at supported merchants or withdraw to local bank accounts. No cryptocurrency knowledge is required.

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Remittance Gaps

"We believe financial technology should work for everyone, not just cryptocurrency enthusiasts," said Sophie Chen, head of marketing for Bybit's payment business unit.

She added that remittance and payments remain "unnecessarily complex, expensive, and slow for millions of people worldwide."

Chen said the feature moves crypto and fiat assets on-chain with instant finality without requiring users to understand digital assets. The company noted that while eligible transfers carry zero fees, foreign exchange spreads may still apply.

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