Bybit to Launch MyBank with IBANs, Multi‑currency Fiat and AED Local Banking
Bybit will launch a banking-style service called MyBank in February 2026, pending regulatory approval. After KYC, verified users receive personal IBANs and can hold US dollar balances, convert funds into crypto, and use multiple fiat currencies within a single account. MyBank is being rolled out through partnerships with traditional banks to provide direct banking rails between MyBank accounts and Bybit wallets—removing third-party payment processors—and will support cross-border transfers in up to 18 currencies. Separately, Bybit has expanded direct AED (UAE dirham) banking access for eligible UAE users, enabling local bank transfers and fee-free AED deposits for qualifying accounts until 28 February 2026 (with a rollout incentive pool up to 750,000 AED). Bybit says these moves aim to reduce funding friction, lower barriers for new users, and integrate crypto activity with everyday payments such as salaries, bills and purchases.
Neutral
The announcement is neutral for immediate price action of any specific cryptocurrency because it primarily affects Bybit’s fiat infrastructure and user onboarding rather than protocol fundamentals or token economics. Short-term: traders may see modest positive sentiment for Bybit as an exchange (improving fiat flows and user convenience), which can increase platform volume but is unlikely to move major crypto prices materially. If Bybit’s improved on‑ramp significantly raises new user inflows over time, that could be bullish for demand-side pressure on major tokens; however, that is a gradual effect dependent on adoption and regulatory outcomes. Risks that could limit impact include regulatory approvals, execution delays, or restrictions in key jurisdictions which would dampen expected benefits. Overall, expect improved fiat liquidity and user access to be supportive over the medium‑long term but neutral for immediate crypto price moves.