By
Chimamanda U. Martha
April 25th, 2024
Bybit is rolling out a promotional deal offering a 7% cashback for each purchase made with the Bybit Card using Toncoin, with certain terms and conditions applicable.
On Thursday, March 21, one of the world’s top crypto exchanges Bybit announced its collaboration with the TON Foundation to introduce a new rewards program for Bybit card users. This collaboration helps in fueling TON’s vision for mainstream adoption of the native crypto Toncoin.
The Bybit Card, recognized as one of Web3’s premier real-world utilities, has expanded its offerings by including Toncoin (TON) among its five supported cryptocurrencies. Users can now utilize Toncoin for everyday transactions and withdrawals from ATMs worldwide.
Furthermore, Bybit is also introducing a promotional offer, providing a 7% cashback in Toncoin for every purchase made with the Bybit Card using Toncoin, subject to specific terms and conditions. Speaking on the development, Ben Zhou, co-founder and CEO of Bybit said:
“As leaders in the crypto space, we are always looking to collaborate with top projects to enhance crypto markets and bring value to our users. We are committed to providing easy access to crypto via our Bybit Card, further bridging the gap between traditional finance and the digital economy.”
Toncoin has been much in the limelight recently after Telegram unveiled its advertising platform last week with the crypto integration. Telegram said that it would offer rewards in Toncoin to all the content creators on the platform.
Earlier this month, leading crypto exchange Binance unveiled the introduction of TON (Telegram Open Network/Toncoin) Perpetual Contracts on its platform. This new product enables users to access leverage of up to 50x, sparking interest in the Telegram-developed blockchain and its associated token.
Bybit Cardholders Gain Access to TON Rewards
Amid the recent development, Bybit also encourages cardholders to empower themselves by choosing TON as their preferred currency. It will further allow them to partake in this offer seamlessly without extra registration steps.
This streamlined process ensures that rewards are promptly credited to users’ accounts within five business days. With a monthly rewards pool of 5,000 Toncoin available on a first-come, first-served basis. Furthermore, each participant has a limit of receiving up to five Toncoin, ensuring a fair and balanced distribution for all. Jack Booth, Chief Marketing Officer of TON Foundation said:
“We at TON Foundation are driven by a simple mission: to put crypto in every pocket. This collaboration with Bybit pulls our goal closer to reality by making crypto accessible to everyone. By introducing this program to a wider audience, Bybit is making TON a practical medium of exchange anywhere a Bybit Card is swiped”.
This announcement closely follows Bybit’s recent partnership with TON through the Bybit x TON Odyssey initiative, which included TON-based giveaways and exclusive staking opportunities.