Bybit, one of the world’s largest crypto exchanges, is moving beyond old trading services and adding bank-style accounts right into its platform. The new service, called MyBank, is expected to launch as early as February 2026, letting users hold U.S. dollars and other fiat currencies directly on Bybit alongside their crypto, a big shift toward everyday banking tools for crypto users. The big reveal was made during a livestream.
Instead of just letting people trade crypto, Bybit wants to be a place where users can store cash, receive salaries, pay bills, or send money internationally, all with a personal IBAN (International Bank Account Number) built into their account. The goal is to make fiat and crypto live in one app, reducing the steps it takes to move money between traditional banks and digital assets.
What MyBank Accounts Will Offer
Bybit’s new MyBank accounts will be issued in partnership with licensed banks such as Pave Bank (a Georgia-licensed lender) and other partners like Qatar National Bank and DMZ Finance. Once regulatory approvals are in place and users complete identity checks (KYC), they can get their own IBAN, much like a normal bank account. These accounts are expected to let customers:
- Hold fiat balances in U.S. dollars and up to 17–18 other currencies.
- Send and receive money across borders with standard bank transfers.
- Convert fiat to crypto immediately within the platform.
The idea is that money deposited into these accounts can be moved seamlessly into crypto markets without leaving the Bybit environment, making it easier and faster for users to switch between cash and digital assets.
Why This Is a Big Step for Bybit
This move shows Bybit is aiming to be more than a crypto exchange; it wants to be a hybrid financial platform, or what some are calling a crypto neobank. Traditional neobanks like Revolut and Robinhood first built digital banking tools and later added crypto features. Bybit is doing the reverse: it already has deep crypto trading infrastructure and is now layering in traditional banking tools under one roof.
Bybit’s CEO Ben Zhou has said the plan is part of a broader strategy to make everyday financial services smooth for crypto users. This includes easier fiat deposits, direct transfers, and potentially new services like institutional custody and tokenized real-world asset products, all aimed at making Bybit more like a full-service financial app.
U.S. Expansion in the Sights
Part of the reason for this banking push is Bybit’s interest in expanding into the United States, a market that has been difficult for the exchange due to regulatory restrictions. Zhou has said that Bybit is “looking into” U.S. expansion, though any direct entry would require a licensed partner and compliance with U.S. rules. Offering MyBank accounts could help build bridges with regulators and demonstrate Bybit’s commitment to regulated financial services.
Bybit’s long-term goals also include exploring a U.S. public listing, showing that the firm is thinking well beyond crypto trading and toward becoming a regulated global financial player.
Challenges and What Comes Next
The rollout is subject to regulatory approval, which could vary by country and influence where and when the accounts become available. Because banking services come with stricter compliance rules, such as anti-money-laundering checks and identity verification, Bybit will need to meet those requirements before users can fully use MyBank accounts.
Still, if successful, the launch could make it easier for millions of users to link their fiat and crypto lives without juggling multiple apps or services, a key hurdle for many people entering digital assets today.
Why This Matters
Bybit’s move reflects a broader trend in crypto: platforms are trying to give users a one-stop financial experience. Instead of just trading, users could soon manage cash, fiat transfers, and digital assets in the same place, something typically reserved for banks or neobanks. If successful, this could help reduce friction for new users, deepen engagement, and push crypto platforms closer to mainstream financial reality.
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