Bybit Pay lets users spend Bitcoin at South African retailers with automatic conversion to rand

The integration lets users pay with Bitcoin and stablecoins at merchants including Pick n Pay, with automatic conversion to rand at the point of sale so retailers never hold cryptocurrency

Carel van Wyk, CEO of MoneyBadger.

Bybit, a cryptocurrency exchange serving more than 80 million users globally, has launched its payment product Bybit Pay in South Africa through an integration with MoneyBadger, a Cape Town-based company that connects cryptocurrency payments to existing retail payment infrastructure. The partnership allows Bybit users in South Africa to spend crypto at physical stores and online merchants by scanning QR codes, with MoneyBadger converting the payment to South African rand before it reaches the retailer.

The coverage is built on MoneyBadger's existing connections to South African payment networks. Users can transact at more than 650,000 locations through Scan to Pay, 31,000 locations through Zapper, over 1,500 Pick n Pay stores, 120 merchants through Peach and more than 440 merchants through Ozow. Supported spending categories include groceries, fuel, travel, retail and dining. The system accepts Bitcoin, stablecoins and more than 20 other digital assets.

For retailers, the integration requires no changes to existing payment systems. MoneyBadger handles the conversion from crypto to rand at the point of sale, which means merchants receive settlement in their normal currency through their current payment provider, without holding cryptocurrency or being exposed to price volatility. This removes what has historically been one of the main barriers to merchant adoption of crypto payments: the requirement to take on currency risk or install new infrastructure.

South Africa represents one of the larger cryptocurrency markets on the continent. According to Triple-A's 2024 estimates, approximately 5.8 million South Africans hold cryptocurrency, representing a 9.44 per cent ownership rate, and around 52 per cent of holders report already using crypto for purchases. The country also ranks among the leading cryptocurrency markets globally in the World Crypto Rankings 2025 report, which evaluated 79 countries across user adoption, transactional activity, regulatory infrastructure and cultural engagement.

On the user side, payments are processed through the Bybit app. For in-store transactions, the user opens Bybit Pay, scans the merchant's QR code and confirms. For online purchases, the user selects crypto at checkout and completes payment through the app. Most transactions are processed within 10 to 15 seconds. QR-based payments carry no transaction fees, and payment limits range from US$0.06 to US$2,500 per transaction. Users need to activate Bybit Pay within the app and complete identity verification to access the service.

"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," said Sophie Chen, head of marketing at Bybit Card and Bybit Pay.

"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," said Carel van Wyk, CEO of MoneyBadger.