Bybit Pay links with digital wallets Yape, Plin to offer crypto payments in Peru

Bybit Pay said it reached an agreement allowing its users to make crypto payments through Yape and Plin, Peru’s most widely used digital wallets.

Together, the two systems served about 28 million users in 2024 and handled nearly 90% of Peru’s in-person digital wallet transactions, according to data shared in a press release with CoinDesk.

The move adds to cryptocurrency exchange Bybit’s push across Latin America, following earlier partnerships in Brazil and Argentina. The service already allows users to pay using Brazil’s instant payment system, PIX, and it's not alone in targeting the region. In recent months, Binance, the largest cryptocurrency exchange, also linked up with PIX, as did Opera’s MiniPay, which became available in Argentina as well.

Bybit Pay’s integration allows customers to spend stablecoins like USDT and USDC or major cryptocurrencies like bitcoin BTC$96,890.10 and ether ETH$3,355.19. Users scan a Yape QR code or send funds via a Plin-linked phone number with the transaction settling in Peruvian soles for the recipient.

Other platforms for these payments include KuCoin Pay, Bitget Wallet and Ramp. It’s part of a growing trend in which crypto neobanks are gaining relevance and adoption because they offer not only local payment mechanisms but also crypto-backed debit and credit cards. The neobanks have processed over $120 million in card payments last month, according to Dune data.