Bybit’s Strategic Leap into Traditional Banking: Launching ’MyBank’ IBAN Accounts in 2026

In a landmark MOVE that blurs the lines between cryptocurrency and traditional finance, Bybit, one of the world's leading cryptocurrency exchanges, has announced its plan to launch retail bank accounts with International Bank Account Numbers (IBANs) in February 2026. This initiative, branded as 'MyBank,' represents Bybit's first significant foray into conventional banking services, signaling a strategic expansion beyond its core crypto trading platform. The accounts will be issued through partnerships with licensed banking institutions, starting with Georgia's Pave Bank, and are set to support an impressive array of 18 fiat currencies, commencing with the US Dollar (USD) and the British Pound (GBP). To access these services, users will be required to undergo Know Your Customer (KYC) verification processes with both Bybit and its affiliated banking partners. This development, announced just ahead of the launch date, positions Bybit to directly compete with traditional and neo-banks by offering integrated financial services. It marks a pivotal step in the exchange's mission to bridge the gap between digital and fiat economies, providing users with a seamless, all-in-one financial hub. For the crypto community and traditional finance observers alike, this move underscores the accelerating convergence of these two worlds and highlights Bybit's ambition to be at the forefront of this financial evolution, offering enhanced liquidity, convenience, and legitimacy to its global user base.

Bybit to Launch IBAN-Based 'MyBank' Accounts in 2026, Expanding Fiat Services

Bybit will introduce retail bank accounts with International Bank Account Numbers (IBANs) in February 2026, marking its first foray into traditional banking services. The 'MyBank' accounts—issued through partnerships with licensed banks like Georgia's Pave Bank—will support 18 fiat currencies, starting with USD and GBP. Users must complete KYC checks with both Bybit and its banking partners.

The move positions Bybit to compete with neobanks by enabling cross-border payments and multi-currency holdings. CEO Ben Zhou frames it as 'bridging crypto and legacy finance'—a strategic play as regulators globally tighten oversight of crypto-native platforms.

Notably absent: any mention of crypto integration. The initial rollout focuses solely on fiat, suggesting Bybit is prioritizing regulatory compliance before linking these accounts to digital asset trading.

Whale Accumulates $7M in Tokenized Gold (XAUT) from Bybit

A significant investor has methodically built a $7 million position in XAUT, a gold-backed cryptocurrency, through repeated transfers from Bybit's hot wallet. The wallet's activity shows a deliberate accumulation strategy rather than a single withdrawal, with recent transactions including 450 XAUT tokens—each representing one troy ounce of physical gold.

Tokenized gold products like XAUT are gaining traction as investors seek stable assets with blockchain's settlement efficiency. Spot trading volume for XAUT recently hit $854 million, reflecting growing institutional interest in crypto-native hedges against market volatility.

The whale's wallet structure reveals a focused approach: minimal ETH holdings for transaction fees, with all capital allocated to XAUT accumulation. This mirrors broader trends of capital rotating into tangible asset-backed tokens during periods of crypto market uncertainty.