Bybit will roll out retail banking services on its platform in February called “My Bank powered by Bybit.” The service will give users a personal IBAN to send and receive funds across banks in multiple currencies, starting with the U.S. dollar.
Users will gain immediate access to their bank accounts after completing KYC, allowing fiat deposits, bill payments, salary receipts and crypto trading under their own name. The company said it is working with banking partners including Qatar National Bank (QNB) and DMZ Finance, as detailed when it partnered on prior initiatives.
According to Bloomberg, the firm is also reportedly working with startup lender Pave Bank, licensed in Georgia. The planned service could support transfers in up to 18 currencies, but it remains subject to regulatory approvals.
The rollout continues the firm’s push beyond crypto trading after a $1.4 billion hack last year (Ed. note: the company was hit by a $1.4 billion hack in 2025). “This product will eliminate a lot of difficulties and challenges you see today,” said Ben Zhou.
