Bybit Maps Out Banking Access Strategy Ahead of MyBank Launch

Bybit is building account access that links fiat and crypto, aiming to support daily payments and cross-border transactions.

Bybit is pushing further into mainstream finance as it works to connect traditional banking with digital assets. The crypto exchange promises a new banking-style service that gives users direct access to fiat and crypto from a single account. Slated for a February 2026 rollout, the product will bring everyday financial activity closer to the crypto ecosystem.

MyBank Rollout Aims to Simplify Access to Fiat and Crypto Accounts

Dubai-based crypto exchange Bybit confirmed it will launch a banking service called MyBank in February 2026, subject to regulatory approval. The product will allow users to open personal accounts with International Bank Account Numbers after completing identity checks.

Bybit CEO Ben Zhou said MyBank will support U.S. dollars and other fiat currencies alongside digital assets. Users can decide how to hold incoming funds once they arrive, either as cash balances or converted into crypto, without leaving the account.

Account access will require identity verification, after which each user will receive a personal IBAN for cross-border payments and transfers. Moreover, MyBank is being introduced through partnerships with traditional banks. This will allow funds to move easily between MyBank and Bybit accounts without external payment processors.

Each MyBank user will receive a personal IBAN, allowing cross-border transfers and access to 18 currencies for international payments.

According to leadership, easier fiat access could reduce barriers for new users. Additionally, a single account lowers entry barriers and streamlines payments and income transfers without requiring platform switches. Over time, such features may place digital assets closer to everyday financial activity.

In addition, MyBank could simplify crypto access by removing additional funding steps, enabling funds to move directly from a bank-style account. This reduces friction for new users while giving regular users quicker transfers and fewer intermediaries.

Multi-currency IBAN support also provides a more practical option for cross-border payments than traditional remittance services. In regions such as the UAE and Kazakhstan, direct account access may help users without full banking services use digital assets in everyday financial activity.

Bybit Rolls Out Direct AED Banking Support for UAE Users

Alongside these product updates, Bybit has expanded its banking access in the United Arab Emirates. Eligible users can now send and receive AED directly through local banks under a regulated framework. This reduces dependence on third-party payment providers and strengthens Bybit’s presence in the UAE.

To encourage early use, fee-free AED deposits will be available for eligible accounts until February 28, 2026. A pool of up to 750,000 AED has been set aside for user programs tied to the rollout. The planned MyBank launch and UAE banking access point to a gradual shift toward wider financial services.

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