Bybit eyes neobank features with IBAN accounts rollout planned for February

Bybit CEO Ben Zhou announced plans to roll out IBAN-based fiat accounts, branded as "MyBank," as early as February, aiming to integrate traditional banking features into the crypto exchange. These accounts, supported by partners like Pave Bank, will allow users to hold and transfer funds across 18 fiat currencies, expanding Bybit beyond digital asset trading into payments and custody for its 81 million global users. The launch is contingent on regulatory approvals, with the compliance team expecting necessary sign-offs next month. This move is part of a broader expansion that also includes developing institutional custody products and exploring a long-term goal of a U.S. public listing. The announcement follows a challenging yet growth-oriented year for Bybit, which included recovering from a major hack and seeing significant institutional inflows.

(Source：The Block)