Bybit unveils expansion into banking and payments to become ‘The New Financial Platform’
Crypto exchange to launch retail banking arm and integrate blockchain with fiat infrastructure
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced plans to reposition itself as “The New Financial Platform” by expanding into banking, payments and traditional financial services.
In a statement, the company said its long-term goal is to serve the 1.4 billion underbanked people worldwide by removing barriers to financial participation and linking blockchain-based products with regulated fiat systems.
As part of this strategy, Bybit will launch MyBank in February, a retail banking service designed to simplify large-value fiat transfers and enable compliant cross-border transactions for everyday use.
“Finance should not be limited by geography,” said Ben Zhou, co-founder and chief executive.
“We are building financial infrastructure that connects crypto utilities with real-world economic activity.
"Our mission is to remove the boundaries that are inconvenient for people from modern finance and create a system that is always accessible, efficient, and global by design.”
Bybit’s institutional custody service, ByCustody, now secures more than $5 billion in assets and supports over 30 asset managers. The platform is used by more than 2,000 institutions, representing 100% growth year over year.
The company reported 82 million users across 181 countries and regions, integration with nearly 2,000 banks and 58 fiat gateways, and more than 2.7 million Bybit Cards issued.
Its Bybit Pay service supports local fiat in over 10 countries, while its Bybit Earn programme manages $7.1 billion in assets and generated $110 million in user yield in 2025.
Bybit said it is working with more than 10 global banks and custodians to strengthen compliance, custody architecture and transaction monitoring.
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The company also highlighted artificial intelligence as a driver of future gains, noting a 30% increase in engineering productivity and plans to deploy AI4SE to target 50% efficiency improvements.
Bybit will also roll out a platform-wide network of AI agents for risk, compliance and customer service, along with an enhanced version of TradeGPT.
The Recap
- Bybit will become a unified global financial platform.
- ByCustody underpins over $5 billion in client assets.
- MyBank targets launch in February and AI rollouts follow.
