Crypto Exchange Bybit to Become More Bank-Like With New Accounts

Crypto exchange Bybit plans to start offering banking services with the launch of accounts that will let customers hold balances in US dollars and other fiat currencies.

The Dubai-based firm will roll out the accounts with the help of partner banks, including Pave Bank, a startup lender licensed in Eastern European country Georgia, Bybit CEO Ben Zhou said in an interview. These “MyBank” accounts will carry an International Bank Account Number (IBAN), allowing customers to transfer 18 currencies in and out, Zhou said. They are expected to go live in February, pending regulatory approvals.

The result is that Bybit may ...