What to know:
Bybit will launch “MyBank” in Feb 2026, offering personal IBANs and support for 18 fiat currencies.
Users can hold cash and crypto in one account and move funds instantly between them.
Bybit added safety upgrades with a new insurance pool and improved price system to reduce ADL risk.
Bybit has announced a big new step in its journey. The company plans to launch a new service called “MyBank powered by Bybit” in February 2026, after getting regulatory approvals. This move will allow users to access real banking services directly through the Bybit platform, not just crypto trading.
A New Banking Product
The announcement was made by Bybit CEO Ben Zhou during a livestream. He explained that MyBank will let users hold normal money like U.S. dollars, euros, and pounds, along with cryptocurrencies.
This means users will no longer need to depend only on crypto wallets. Once money like dollars or pounds enters a MyBank account, users can choose to: Keep it as cash Or convert it into crypto instantly This direct connection between banking and crypto makes things much easier for everyday users who want both options in one place.
Personal IBANs and Global Transfers
One of the most important features of MyBank is that every user will get a personal IBAN (International Bank Account Number) after completing identity checks.
With this IBAN, users will be able to:
- Send and receive money internationally
- Make cross-border transfers
- Hold and move funds easily
The service will support 18 different fiat currencies, making global payments simple and fast. This means MyBank users can move money between countries without relying on multiple payment apps or platforms.
MyBank is not being built alone. Bybit is working with traditional banks, including partners like Pave Bank, to run these services. Because of these partnerships: Users can move money smoothly between banks and Bybit, Converting cash to crypto will be instant and Payments will feel more like normal banking This setup makes MyBank feel like a digital bank / neobank, where users can manage money and crypto in one place.
Expansion in the UAE
Bybit also shared updates about its growth in the UAE. Users in the region can now make direct AED deposits and withdrawals between Bybit and local UAE banks.
To support this launch Bybit announced a reward pool of up to 750,000 AED, and AED deposits will have zero fees until February 28, 2026. This strengthens Bybit’s position in the Middle East and shows its focus on building real banking links in different regions.
Future Expansion
Bybit also talked about improving safety on its trading platform. After reviewing market issues from October 11, the company made two major changes: Improved Mark Price system and New insurance pool These upgrades aim to reduce Auto-Deleveraging (ADL), which can affect users during sudden market crashes. The goal is to make trading safer and reduce unexpected losses for users.
Bybit shared that it will not build its own prediction market platform. According to CEO Ben Zhou, the rules and legal requirements are too complex. However, Bybit may explore third-party partnerships in the future and support prediction markets indirectly if rules allow.
Bybit is also looking at international expansion, including a possible entry into the U.S. market in the future. This would require a licensed partner due to strict regulations. The company has also shared that a U.S. public listing is a long-term goal.
Final Thoughts
With MyBank, Bybit is clearly changing its identity. It is no longer just a crypto trading platform. It is becoming a full financial service provider, combining banking, payments, and crypto in one system. The launch of MyBank in February 2026 will mark a major shift in how people use crypto platforms in daily life and not just for trading.
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