Bybit is adding bank accounts to its crypto platform with eye on U.S. expansion: Bloomberg
Bybit, one of the world’s largest crypto exchanges, is plotting a move into the crypto neobank sector with a new product that lets customers hold and move fiat currencies like U.S. dollars and euros.
The “MyBank” service will go live in February, subject to regulatory approval, and will allow users to send and receive 18 fiat currencies using International Bank Account Numbers (IBANs), Bloomberg reported on Thursday, citing the firm’s CEO Ben Zhou.
Crypto neobanks has helped digital asset firms separate themselves from traditional financial platforms (TradFi) with services such as payments. Various crypto neobanks are currently competing for dominance, including Ether.fi, Kast, and Offramp.
Bybit’s MyBank accounts are being…
