Bybit plans to launch IBAN accounts in February, taking a step towards becoming a "crypto neobank."

On January 29, Bybit CEO Ben Zhou said the crypto exchange plans to launch IBAN-based fiat accounts as early as February, supporting 18 fiat currencies. The move marks Bybit’s accelerated transition from a crypto exchange to a full-service financial provider with neobank capabilities. According to reports, the accounts will launch under the “MyBank” brand and be issued via partner institutions like Pave Bank (a licensed bank in Georgia, U.S.). Users will receive a personal IBAN for cross-border payments, transfers, and free fiat-crypto conversions—with U.S. dollars (USD) as the initial priority before expanding to other currencies. Related services require KYC compliance checks from Bybit and its partner banks, and the launch timeline hinges on regulatory approval progress. Zhou also noted that Bybit is developing real-world asset (RWA) tokenization custody products for banks and large institutions. The firm is evaluating U.S. market expansion and the potential for future U.S. listings, having already contacted several major U.S. banks. Bybit added that its compliance team is in close communication with regulators, expecting relevant approvals to be secured next month. This strategic shift aligns with Bybit’s 2025 overarching strategy, which prioritizes regulatory progress, institutional capital inflows, and rapid expansion of tokenization services.