Bybit announces banking service with personal IBANs for 18 currencies

Crypto exchange Bybit will launch retail banking services in February, offering users personal IBAN accounts that enable fiat transfers, bill payments, and salary deposits alongside crypto trading.

The Singapore-based exchange, among the world’s largest by trading volume, announced the “My Bank powered by Bybit” product on Thursday in partnership with Qatar National Bank, DMZ Finance, and Georgia-licensed Pave Bank.

Banking partnerships power Bybit bank accounts rollout

According to the company, users will gain immediate access to Bybit bank accounts after completing Know Your Customer (KYC) verification.

This will allow them to deposit fiat currency, pay bills, receive salaries and trade crypto assets all under their own legal name.

Bybit said it is working closely with multiple banking partners to support the rollout of Bybit bank accounts, including Qatar National Bank (QNB) and DMZ Finance.

The exchange previously partnered with DMZ Finance in September 2025 on tokenized asset initiatives.

Bloomberg also reported that Bybit is collaborating with startup lender Pave Bank which is licensed in the Eastern European country of Georgia as part of the infrastructure supporting Bybit bank accounts.

At launch, the service is expected to support transfers in up to 18 currencies though full availability will depend on regulatory approvals across jurisdictions where Bybit bank accounts will be offered.

“This product removes many of the barriers and pain points users face today,” Zhou said, adding that customers will be able to deposit fiat directly from traditional banks with ease.

“From the bank’s perspective, it’s just a transfer to your own account. You can use it to buy a car, pay rent or handle everyday expenses without the usual hassle.,” he added describing the everyday utility of Bybit bank accounts.

Cointelegraph contacted Bybit for additional comment on the new banking services but had not received a response as at the time of publication.