Bybit Launches “MyBank” With IBAN Support for 18 Fiat Currencies

Crypto exchange Bybit is taking a significant step into traditional financial services with the upcoming launch of MyBank, a banking-style product that will let users hold, transfer and receive fiat currencies using personal International Bank Account Numbers (IBANs). The service is expected to roll out in February 2026, pending regulatory approvals, marking a major expansion beyond Bybit’s core trading platform. 

What MyBank Offers

Under the MyBank brand, eligible Bybit users will receive unique IBANs tied to their accounts, enabling them to send and receive funds in up to 18 fiat currencies, including the U.S. dollar, euro, British pound and others — all directly through the Bybit ecosystem. These accounts function much like traditional bank accounts, supporting cross-border transfers and everyday payment needs. 

One key feature of MyBank is the ability to instantly convert fiat deposits into cryptocy, eliminating the need for third-party payment processors and reducing friction when moving money between traditional and digital asset markets. Bybit is building the service in partnership with licensed banks such as Pave Bank in Georgia, with additional banking partners supporting compliance and operations. 

Bybit’s Strategic Shift

Bybit’s move toward banking services reflects a broader trend of crypto platforms integrating traditional financial rails to create seamless financial experiences. MyBank positions Bybit as a crypto-native neobank, combining fiat handling and digital asset access in one platform — a setup that could appeal to users seeking unified money management without juggling multiple services. 

“In essence, once your US dollars or pounds arrive, you can choose to keep them in fiat or transfer them into cryptocy instantly,” said Bybit CEO Ben Zhou, highlighting the company’s goal of blurring the lines between conventional banking and crypto finance. 

Global Expansion and Compliance

The rollout of MyBank will depend on meeting regulatory requirements in various jurisdictions. Bybit operates in more than 200 countries and serves over 81 million users worldwide, but access to certain markets — such as the United States, United Kingdom and Japan — remains restricted without local licensing. The company says it plans to pursue compliant partnerships as it expands its banking offerings. 

Bybit’s banking push comes as the exchange continues to broaden its product suite — including crypto debit cards, peer-to-peer services and institutional custody products — signaling an ambition to evolve into a comprehensive financial platform rather than just a crypto marketplace.