Cryptocurrency exchange Bybit is preparing to expand beyond trading services with the launch of MyBank, a retail banking-style product expected to go live in February 2026, subject to regulatory approvals. The move signals Bybit’s ambition to position itself as a hybrid crypto–fiat financial platform, blending traditional banking features with digital asset services.
What Is MyBank by Bybit?
MyBank is a new financial account service designed to give Bybit users access to traditional banking functionality directly within the exchange ecosystem. Unlike standard exchange wallets, MyBank accounts are designed to function like neobank accounts, enabling users to hold fiat currencies, receive salaries or payments, and move money through conventional banking rails.
The service represents a strategic shift for Bybit, as it moves closer to offering full financial account services rather than operating solely as a crypto trading venue.
February 2026 Launch Timeline
Bybit has announced plans to roll out MyBank in February 2026. However, the final availability will depend on regulatory clearance in supported jurisdictions. Initial access is expected to be region-specific, with broader international expansion following once compliance requirements are met.
Key Features of MyBank
Personal IBAN Accounts
MyBank users will be issued individual IBANs after completing identity verification. This allows them to send and receive bank transfers directly from traditional financial institutions, removing the need for third-party payment intermediaries.
Multi-Currency Fiat Support
The service is expected to support multiple fiat currencies, including major options such as USD and GBP. This enables users to manage cross-border payments and international transfers more efficiently.
Integrated Fiat and Crypto Access
Funds held in MyBank accounts can be seamlessly transferred into Bybit’s trading environment. Users will be able to convert fiat balances into cryptocurrencies without leaving the platform, simplifying onboarding and trading workflows.
Regulatory Compliance and Banking Partnerships
Bybit is developing MyBank in collaboration with licensed financial institutions. All users will be required to complete KYC and compliance checks to ensure the service aligns with local banking and anti-money-laundering regulations.
Why MyBank Matters for the Crypto Industry
The launch of MyBank highlights a broader industry trend where crypto exchanges are evolving into full-service financial platforms. By integrating IBAN accounts and fiat services, Bybit reduces friction between traditional finance and digital assets.
For users, this means easier deposits and withdrawals, faster access to trading capital, and the ability to manage both fiat and crypto holdings from a single account.
Potential Impact on Bybit Users
- Direct bank transfers without relying on third-party payment processors
- Improved access to fiat on-ramps and off-ramps
- More efficient management of fiat and crypto funds in one ecosystem
- Enhanced trust through regulated banking partnerships
Important Considerations
While MyBank offers expanded functionality, availability will vary by region, and certain features may be restricted depending on local regulations. Fees, supported currencies, and transfer limits have not yet been fully disclosed and are expected to be clarified closer to launch.
Bybit’s upcoming MyBank launch in February 2026 marks a significant step toward bridging traditional banking and cryptocurrency services. If successfully implemented, MyBank could strengthen Bybit’s position in the global fintech landscape and provide users with a more seamless way to interact with both fiat and digital assets.
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