Key Takeaways

• Bybit is launching “My Bank,” providing retail users with personal IBANs for direct fiat deposits and salary receipts.

• The service will initially support US dollar transfers, with plans to expand to 18 different currencies following regulatory approvals.

• Bybit is collaborating with regulated partners like Qatar National Bank and Pave Bank to ensure high-standard custody and compliance.

The divide between traditional finance and digital assets is narrowing. Bybit, currently the world’s second-largest cryptocurrency exchange by volume, has announced a bold leap into the retail banking sector. During a live keynote in late January 2026, CEO Ben Zhou unveiled “My Bank powered by Bybit,” a service designed to give users a personal International Bank Account Number (IBAN).

This isn’t just about trading anymore. The exchange is making a massive move to become a full-blown “neo-bank,” which puts them on a direct collision course with big names like Revolut and Robinhood. They’re basically stepping out of the crypto niche and trying to take over the entire fintech space.

For many crypto enthusiasts, the “on-ramp” and “off-ramp” process has historically been a friction-filled nightmare involving third-party processors and hefty fees. Bybit’s new banking suite aims to eliminate these barriers. By providing users with accounts in their own names, the platform allows for the direct receipt of salaries and the payment of bills—all within the same ecosystem where they trade Bitcoin and Ether. This integration allows for major real-world transactions, such as buying a car or an apartment, without the “hassle” usually associated with moving large sums from an exchange to a traditional bank.

Bybit is working with banks to support the banking rollout

To bring this ambitious vision to life, Bybit isn’t going it alone. The exchange has secured strategic partnerships with established financial institutions, including Qatar National Bank (QNB) and DMZ Finance. Bybit is also reportedly teaming up with Pave Bank, a startup lender out of Georgia, to help them navigate the nightmare of global banking regulations. You’ll be able to jump into these new features as soon as you hit Level 1 KYC, so everything stays strictly by the book regarding AML protocols.

Right now, it’s all about the US dollar, but they’ve built the pipes to handle 18 different currencies eventually. This kind of “reverse move”—where a crypto firm effectively becomes a bank—is almost unheard of in this industry. It’s a massive pivot for Bybit, coming about a year after they were rocked by that $1.4 billion hack. They’re clearly gambling that you’d rather have all your money—fiat and crypto—under one roof, even if it means blurring the lines between traditional banking and digital assets.

Final Thoughts

Bybit’s transition into retail banking could redefine user expectations, turning a crypto exchange into a primary financial hub for the digital-native generation.

Frequently Asked Questions

When will Bybit banking launch?
The service is scheduled to go live for retail users starting in February 2026.

What is a personal IBAN?
It is a unique identifier that allows you to send and receive international bank transfers directly under your own name.

Which currencies are supported?
At launch, US dollar transfers are supported, with plans to expand to 18 currencies pending approvals.