ByBit Expanding Beyond Crypto With Banking Services

The company plans to begin offering banking services, including accounts that allow users to hold balances in U.S. dollars and other fiat currencies, CEO Ben Zhou said in an interview with Bloomberg News Thursday (Jan. 29).

These “MyBank” accounts, he said, will come with an International Bank Account Number (IBAN), letting customers transfer 18 currencies in and out, and expected to go live next month, pending approvals from regulators.

Bloomberg notes that this might put ByBit into the same “neobank” territory as companies like Revolut and Robinhood. Those companies added crypto offerings after starting with trading and banking services, while ByBit aims to do the same thing in reserve.

“The moment that your…

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