Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has expanded its Bybit Pay solution to South Africa through a strategic integration with MoneyBadger, a South African crypto payments provider. This partnership allows users to make everyday purchases using cryptocurrency across a vast merchant network via QR code and online payments, marking a significant step in real-world crypto adoption in one of Africa’s most active digital asset markets.
South Africa boasts an estimated 9.44% cryptocurrency ownership rate—approximately 5.8 million people—with 52% of holders already using crypto for purchases, according to Triple-A’s 2024 estimates. Bybit Pay integrates with major South African payment networks, offering access to over 650,000 locations via Scan to Pay, 31,000 locations via Zapper, more than 1,500 Pick n Pay stores, 120 merchants via Peach, and 440+ merchants via Ozow. Users can pay with Bitcoin, stablecoins, and over 20 supported digital assets.
The system uses existing QR and pay link infrastructure, allowing merchants to receive settlement in South African rand through their current payment systems without needing to hold cryptocurrency. MoneyBadger converts crypto to rand at the point of sale, minimizing price volatility exposure. Bybit Pay supports both in-store and online transactions: for in-store, users open the Bybit app, scan a merchant QR code, and confirm the transaction; for online, they select crypto as a payment method at checkout and confirm via the Bybit app.
To use the service, users must activate Bybit Pay within the app and complete identity verification. The platform charges no transaction fees for QR Pay, with payment limits ranging from $0.06 to $2,500 per transaction and most payments processed within 10 to 15 seconds. Bybit serves over 80 million users globally and supports South African rand deposits, strengthening its regional footprint.
Sophie Chen, Head of Marketing at Bybit Card and Bybit Pay, stated: 'Crypto payments are entering a new phase where the focus is shifting from trading to real-world utility. Bybit Pay connects digital assets to everyday commerce, and our partnership with MoneyBadger enables seamless spending across South Africa.' Carel van Wyk, CEO of MoneyBadger, added: 'At MoneyBadger, our goal is to make paying with Bitcoin and crypto as simple as scanning a QR code. By enabling Bybit Pay across our network, millions of users can now spend crypto at everyday merchants across South Africa, while merchants continue to receive settlement in rand.'
In a separate development, Bybit also announced the listing of MegaETH (MEGA) on its exchange. Traders can now deposit MEGA tokens, with spot trading expected to begin shortly. The MEGA token operates on the Ethereum blockchain and aims to enhance scalability and transaction speed. Bybit’s listing provides immediate exposure to a global user base and signals confidence in the project, often leading to increased liquidity and price stability.
