Bybit to Roll Out “MyBank” Accounts with IBANs for Global Users

TLDR

• Bybit is set to launch IBAN-based retail bank accounts in February 2026.
• The new “MyBank” accounts will allow users to hold and transfer fiat currencies like U.S. dollars and pounds.
• Users will be able to transfer funds across 18 fiat currencies using their IBAN accounts.
• Bybit will initially support U.S. dollars and plans to expand to other fiat currencies.
• The accounts will require users to complete know-your-customer checks with both Bybit and its banking partners.

Bybit is set to introduce IBAN-based fiat accounts in February, aiming to offer its users access to traditional banking features. This move will allow users to hold and transfer fiat currencies like U.S. dollars and pounds, expanding Bybit’s services beyond digital assets. The exchange also intends to make cross-border payments easier with the introduction of these accounts, which will be branded as “MyBank.”

Bybit’s New “MyBank” Accounts

According to Bybit CEO Ben Zhou, the new accounts will be issued in partnership with licensed banks, including Pave Bank, based in Georgia. These accounts will feature International Bank Account Numbers (IBANs), enabling users to transfer funds across 18 fiat currencies. Initially, the platform will support U.S. dollars, with plans to expand to other currencies in the future. The service will require users to complete know-your-customer (KYC) checks, which will be managed by both Bybit and its banking partners.

The “MyBank” accounts will allow users to make deposits in either fiat or cryptocurrency, giving them flexibility in managing their assets. Transfers can be made both to personal accounts and third-party accounts. Bybit’s spokesperson confirmed that these features will be available once regulatory approvals are finalized in February. The company aims to make banking and crypto assets more accessible to its growing user base, which now exceeds 81 million globally.

Expansion Plans Beyond Crypto Trading

Bybit is also focusing on expanding its services to institutional clients and large investors. The exchange plans to introduce a new custody product that targets banks and institutions involved in tokenizing real-world assets. Zhou mentioned that Bybit is actively exploring the U.S. market, though expanding there would require a licensed banking partner. The company has also confirmed its long-term goal of listing publicly in the United States, with ongoing talks with major banks for advice.

In addition to these plans, Bybit has been making strides in improving security following a major hack in 2025. The exchange replaced customer funds from its treasury after a breach by North Korea’s Lazarus Group, ensuring no customer losses. This commitment to security has been reinforced by over 50 upgrades following nine audits. Bybit also reported institutional inflows and significant growth in its assets under management, further showcasing its continued expansion in the crypto market.

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