Bybit, the world's second-largest cryptocurrency exchange, has integrated its Bybit Pay service with Peru's leading digital wallets, Yape and Plin. This move allows millions of users to make crypto-backed payments using familiar QR codes and phone-number transfers. The expansion highlights growing digital payment adoption in Latin America.
On January 14, 2026, Bybit announced the rollout of Bybit Pay in Peru, partnering with Yape and Plin, which together serve around 28 million users as of 2024. These platforms dominate the country's cashless economy, with Yape accounting for 54% of in-person transactions and Plin 34% that year. More than half of Peru's adult population relies on phone-based digital wallets, underscoring the market's potential for crypto integration.
The new features enable users to pay with existing Yape QR codes at merchants nationwide, conduct Plin phone-number transfers backed by cryptocurrencies, and shop online or in stores using digital assets. Supported cryptocurrencies include USDT, USDC, BTC, and ETH, which convert automatically to Peruvian Sol (PEN) for seamless transactions. Settlements are near-instant with enhanced security.
To mark the launch, Bybit Pay offers incentives: new users receive a 50% discount on their first QR code or phone-number transfer, while existing users earn 2-10% cashback on such payments.
"By integrating with mainstream payment methods Peruvians already know and trust, Bybit Pay is removing barriers to digital asset adoption and making crypto genuinely useful for everyday transactions," said Patricio Mesri, CEO of Bybit LATAM. He added, "Peru represents one of Latin America's most dynamic digital payment markets, and we are proud to be building the infrastructure for financial innovation and inclusion together with our partners."
Founded in 2018, Bybit serves over 80 million global users and has expanded in Latin America through similar partnerships in Brazil and Argentina. Access requires completed identity verification on the platform, with restrictions in certain countries.
