Bybit is getting ready to roll out a new retail banking feature in February, adding personal Iban accounts directly to its platform. The move would let users hold and manage traditional currencies alongside their existing balances, making everyday payments and transfers easier without leaving Bybit.
The service, internally called My Bank, was revealed by CEO Ben Zhou during a late-January online event. Each user will receive a personal Iban, enabling them to send and receive money across banks, get paid in their own name, pay bills, and move funds between fiat and digital assets. U.S. dollars will be supported at launch, with more currencies expected to follow. Access will require standard identity verification.
Behind the scenes, Bybit is working with several financial institutions to make this possible, including Qatar National Bank, DMZ Finance, and Georgia-based Pave Bank. Zhou also confirmed the company is developing a separate custody solution aimed at institutions involved in tokenized assets like equities or real estate, but ruled out any plans to enter prediction markets.
“We looked and there had been a lot of compliance challenges,”
Zhou said.
Looking ahead, Bybit is laying the groundwork for a potential U.S. expansion and, eventually, a public listing, though any American operations would require a licensed local partner. While the company continues to grow globally, it remains selective in certain regions, having paused new user onboarding in Japan to stay aligned with local regulations.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
