Bybit has announced plans to launch a new retail banking service called “My Bank,” marking its expansion beyond cryptocurrency trading. The service is scheduled to go live this February, according to an announcement by CEO Ben Zhou.
The new platform will provide users with personal International Bank Account Numbers, or IBANs. This will allow customers to hold fiat accounts in their own names rather than relying on third-party payment processors.
Bybit said the service will support seamless transfers between fiat currencies and cryptocurrencies. Users will be able to trade digital assets, send and receive money, and manage multiple currencies from a single account.
At launch, “My Bank” is expected to support up to 18 currencies. US dollar transfers will be available from day one, making it easier for users to move funds in and out of the platform.
To support the service, Bybit has partnered with several regulated financial institutions. These include Qatar National Bank, DMZ Finance, and Pave Bank, a digital lender licensed in Georgia.
The platform will also offer standard banking features such as salary deposits, bill payments, and large transactions, including property or vehicle purchases. All services will require users to complete standard identity checks.
Bybit said the goal is to reduce friction between crypto exchanges and traditional banks. Personal IBANs are expected to lower the risk of rejected or frozen transfers, a common issue for crypto users.
The launch reflects Bybit’s broader strategy to build a full financial ecosystem. As crypto and traditional finance continue to overlap, the company aims to make digital assets easier to use alongside everyday banking services.
