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Bybit to Offer Retail-Style Bank Accounts With Personal IBANs (International Bank Account Number) After KYC

According to Bybit CEO Ben, the exchange will let verified users open personal IBAN (International Bank Account Number) accounts under their name after KYC (identity verification checks), starting with USD and usable for salary receipts.

Summary

Bybit CEO Ben said the crypto exchange (digital asset trading platform) will launch retail-style bank accounts. After KYC (identity verification checks), users can obtain a personal IBAN (International Bank Account Number) in their own name, starting with USD, and use the account for salary receipts.

Terms & Concepts
  • KYC (Know Your Customer): A compliance process where platforms verify a user’s identity to prevent fraud and money laundering.
  • IBAN (International Bank Account Number): A standardized international account identifier used to route cross-border bank transfers accurately.
  • Crypto exchange: A platform for buying, selling, and trading digital assets such as Bitcoin and Ethereum.