Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced on January 29, 2026, that it is expanding beyond trading into full-scale retail banking.
The new service, branded MyBank powered by Bybit, is expected to launch in February 2026, subject to final regulatory approvals.
The move marks a strategic shift for Bybit, positioning the exchange as a “crypto neobank” that combines traditional banking services with direct access to digital assets.
What MyBank Offers
MyBank is designed to function as a fully usable bank account rather than a crypto add-on. Users will be able to hold and transfer balances in 18 fiat currencies, including the U.S. dollar, euro, and British pound, alongside cryptocurrencies within the same interface.
Each account will come with a personal IBAN, allowing users to receive salaries, pay bills, and send or receive funds directly through the global banking system in their own name. Fiat deposits can be converted instantly into crypto, and vice versa, removing the friction typically associated with moving funds between banks and exchanges.
To support the rollout, Bybit is working with several licensed financial institutions, including Pave Bank, Qatar National Bank (QNB), and DMZ Finance, providing the regulated infrastructure behind the accounts.
Competing With Fintech From the Other Direction
The launch places Bybit in direct competition with established fintech platforms such as Revolut and Robinhood, but with a reversed strategy. While those firms began with traditional finance and later added crypto features, Bybit is starting with crypto and building outward into banking.
CEO Ben Zhou confirmed that the company is also actively exploring entry into the U.S. market. Doing so would require a partnership with a U.S.-licensed financial institution, but Zhou indicated that the expansion is under serious consideration as part of Bybit’s longer-term growth plans.
Bigger Ambitions: U.S. Listing and Institutional Custody
Beyond retail banking, Bybit has broader ambitions. Zhou stated that a U.S. public listing is a long-term objective for the company, which now serves more than 81 million users globally.
At the same time, Bybit plans to introduce an institutional custody product, aimed at banks and professional investors involved in the tokenization of real-world assets. This signals that the firm sees regulated infrastructure—not just trading volume—as a core pillar of its future business.
Gradual Rollout and Compliance
Access to MyBank will require full KYC verification, meeting both Bybit’s internal standards and those of its banking partners. The service will roll out gradually, beginning with U.S. dollar accounts in February, before expanding to additional currencies and regions.
Taken together, the launch of MyBank highlights a broader trend in crypto markets: exchanges are no longer content to be trading venues alone. By integrating banking, payments, and custody, Bybit is positioning itself as a full financial platform, one built around crypto rather than merely connected to it.
