ByBit Launches Crypto Debit Card, PancakeSwap V3 & More

Overview

• ByBit launches new card while PancakeSwap is set to launch V3 on BNB chain.
• Egypt arrests 29 people for running a crypto scam and Pakistan Banks‘ Association develops blockchain-based KYC Platform.
• Bank of International Settlements (BIS) and seven central banks plan to launch CBDCs by end of year.

ByBit Announces Card

ByBit announced a new debit card that will allow users to make payments and withdraw cash using crypto. The Bybit Card will operate on the Mastercard network and will begin with the launch of a free virtual card for online purchases, with physical debit cards reportedly set to be available in April 2023. This comes after, on March 4, ByBit „temporarily suspended USD deposits via Wire Transfer (including SWIFT) due to service outages from our end-point processing partner until further notice.“ Withdrawals will also be suspended on March 10.

PancakeSwap Launching Version 3

Multichain decentralized exchange (DEX) PancakeSwap will launch its version 3 (V3) on BNB Smart Chain in the first week of April, the team confirmed on Twitter. „Our team is working hard to constantly improve the PancakeSwap platform and bring our users the best experience possible. Stay tuned for more exciting developments,“ they said.

Egypt Arrests Scammers

Egyptian authorities detained 29 people, including 13 foreigners, accused of running a crypto scam that defrauded thousands of investors and pocketed about $620,000, The Times of Israel reported, citing state media. The group ran the online platform „HoggPool“, promising large profits from crypto mining and trading services, for fees charged at an attractive foreign exchange rate, it said.

Pakistan Banks‘ Association Developing KYC Platform

The Pakistan Banks‘ Association (PBA) signed off on developing a blockchain-based Know Your Customer (KYC) platform with the Avanza Group, the Daily Times reported. The project is part of the State Bank of Pakistan’s (SBP) efforts to strengthen the control infrastructure for Anti Money Laundering (AML)/Terrorist Financing (TF) capabilities in the country, it said.