Bybit Expands Banking Services with Personal IBANs
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Cryptocurrency exchange Bybit has announced the upcoming launch of "My Bank" accounts in February, marking a significant step toward bridging traditional finance with digital asset ecosystems. The new service will provide users with personal IBANs, enabling instant fiat access, multi-currency transfers, and crypto trading under their own name. This development reflects the growing trend of crypto-native platforms expanding into regulated financial services, potentially enhancing user convenience and institutional adoption.
Analytically, Bybit's move could intensify competition among exchanges offering banking-like features, following similar initiatives by competitors like Binance and Kraken. The integration of personal IBANs may streamline onboarding for European users and reduce reliance on third-party payment processors, though regulatory compliance across jurisdictions will be critical. This expansion signals a maturation of the crypto industry, as platforms diversify beyond trading to offer comprehensive financial solutions.
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