Bybit, one of the biggest crypto exchanges in the world by trading volume, has announced ambitions to offer retail banking services with its new product, “My Bank powered by Bybit.”
The project, which was revealed during a live online keynote on January 29, 2026, would provide verified users with their own International Bank Account Numbers (IBANs). This will make it easy to send, deposit, and pay in numerous currencies while also connecting directly to crypto trading.
The launch, which is planned for February 2026 and needs regulatory approval, marks Bybit’s brave move to go beyond just trading digital assets. It comes around a year after the platform was hacked for $1.4 billion, which shows how far the exchange has come back and how much it wants to grow into a more complete financial platform.
Personal IBANs and Support For Many Currencies
The main part of the service is giving each user their own IBAN after they pass the Know Your Customer (KYC) check. This lets individuals transfer and receive money between banks just like they would with a regular account. At start, the service will only allow US dollar payments, but it hopes to add support for up to 18 more fiat currencies once it gets the go-ahead.
During the keynote, Bybit CEO Ben Zhou stressed how easy it is to use. “This product will get rid of a lot of the problems and challenges you see today,”
Zhou said. He went on to say that customers can deposit fiat directly from their bank accounts, saying, “To the bank, they’re just moving money to your own bank account.” You can also use this to buy a car, pay for an apartment, and other things without any problems.
The accounts will let you do things like deposit your paychecks, pay your bills, and keep your fiat balances. Most importantly, consumers may quickly change this money into cryptocurrencies, which makes the fiat-to-crypto process easier. Zhou talked about this integration and said, “As soon as your pound or US dollar arrives, you can choose to send it to crypto.” That is a big change.
Partnerships Helping with the Rollout
Bybit is working with well-known banks to add these financial capabilities. Some of these are Pave Bank, a regulated lender in Georgia, Qatar National Bank (QNB), and DMZ Finance, which is connected to previous tokenized asset projects.
A Bybit spokeswoman verified the setup, saying, “Bybit users can have their own personal IBAN to receive money and move assets.” Bybit can deliver regulated banking-like services without being a full bank itself by working with licensed companies to handle fiat infrastructure.
Easy Integration of Fiat and Crypto
The MyBank service puts Bybit more like a neobank, where customers may handle both traditional money and digital assets in the same place. After KYC, access is granted right away, letting users make deposits in fiat, pay bills, be paid, and trade crypto, all in their own name. This gets rid of frequent problems with getting started with crypto, such as hard-to-use fiat ramps.
Bybit’s decision is part of a larger trend in the industry where crypto platforms are moving into traditional finance to get more people to utilize them. The exchange, which has millions of users throughout the world, views this as a way to make things easier and get more people to use it.
As regulatory issues are still the last thing that needs to be worked out before the February deployment, Bybit’s statement shows that crypto and traditional banking are getting closer together. If it works, MyBank might change the way millions of people use both real and digital money in their daily lives.
