Bloomberg recently reported that the exchange was adding bank accounts to its platform. This is a move aimed at becoming a crypto neobank. Bybit aims to make it easier for users to hold, transfer and convert fiat currencies directly into digital assets.
The new service, called MyBank, is expected to go live in February, subject to regulatory approval. Users will be able to send and receive 18 fiat currencies using international bank account numbers, or IBANs. This will be done in partnership with local banks like Pave Bank, licensed in Georgia. Deposits made into these accounts can be instantly converted into cryptocurrency. This simplifies the entry point for those new to digital assets.
Bridging Traditional Banking and Crypto
Bybit’s approach represents a reversal from the path taken by fintech companies such as Revolut and Robinhood. They started with banking or investment services and later added crypto features. MyBank positions Bybit to compete in the growing crypto neobank sector. By combining traditional banking features with instant access to digital assets.
A concrete example of Bybit’s rise in the payments space is its Bybit Pay service, which was integrated into digital wallets in Peru earlier this year. By directly connecting banking infrastructure with crypto services, Bybit makes the transition from fiat to digital currency smoother.
NEW: BYBIT ADDS BANK ACCOUNTS TO ITS CRYPTO PLATFORM WITH AN EXPANSION INTO THE UNITED STATES
SOURCE: pic.twitter.com/GbLDlYm3AS
– DEGEN NEWS (@DegenerateNews) January 29, 2026
For investors, this means easier access to cryptocurrency markets. With MyBank, users can manage multiple currencies. Including US Dollars and Euros, in one account, and convert funds to crypto without resorting to third-party exchanges. This reduces friction and encourages broader adoption of digital assets among retail users who may be hesitant to navigate complex crypto platforms.
Eyes on international expansion
Bybit doesn’t stop at local markets. CEO Ben Zhou confirmed that the company is considering international growth, including a potential entry into the US market. Any expansion into the United States would require a licensed partnership, ensuring compliance with local banking and securities regulations.
🚨BREAKING: BYBIT TO OFFER BANKING SERVICES
Bybit plans to launch “MyBank” accounts allowing users to hold US dollars and other fiat currencies, with IBANs for transfers in 18 currencies.
The rollout is being done in partnership with banks and is expected to go live in February, pending approvals. pic.twitter.com/vsNft1gF78
– Coinbureau (@coinbureau) January 29, 2026
So, as crypto adoption continues to accelerate, platforms like Bybit are demonstrating that the future of finance can combine traditional and digital solutions. MyBank highlights a key trend: connecting fiat and crypto infrastructure can create more user-friendly experiences, which could drive greater acceptance of digital assets.
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