Bybit to Launch “MyBank” Accounts, Expanding Into Banking Services
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Bybit plans to launch MyBank accounts in February, pending final regulatory approvals. MyBank lets users hold USD and move funds across 18 fiat currencies. Users receive personal IBANs, reducing reliance on external banks for transfers. Crypto exchange Bybit is moving closer to traditional finance. The platform has announced plans to launch MyBank, a new account service that will allow users to hold U.S. dollars and other fiat currencies directly within the Bybit ecosystem. The new service is expected to go live in February, pending regulatory approvals, and marks one of Bybit’s biggest moves yet toward becoming more bank-like. What Are MyBank Accounts? According to Bybit CEO Ben Zhou, MyBank accounts will allow users to: Hold fiat balances such as USD Transfer funds across 18 different currencies Receive a personal IBAN for bank-style transfers The accounts are being launched in partnership with licensed banking institutions, including Pave Bank, a regulated lender based in Georgia. “This brings full fiat rails directly into the Bybit platform,” Zhou said as reported by Bloomberg, explaining that users will no longer need to rely on external banks for basic fiat movement. Why This Matters for Crypto Users The launch shows a growing trend in the crypto industry: exchanges are racing to make fiat access as smooth as crypto trading. Instead of moving money back and forth between banks and exchanges, users can manage both from a single account. Bybit’s MyBank rollout builds on earlier efforts, including support for UAE dirham (AED) deposits and yield products like BYUSDT. Together, these moves signal a clear push toward a hybrid exchange–bank model. Payments Expansion: The Bybit Card Alongside MyBank, Bybit recently expanded its payment offerings with the launch of the Bybit Card in Georgia. The card allows users to spend crypto at merchants that accept Mastercard. The card supports…
Filed under: News - @ January 29, 2026 9:27 pm