Bybit, a major cryptocurrency exchange, will launch retail banking services in February. Users will get personal IBANs for multi-currency transactions, starting with USD. This move follows a $1.4 billion hack last year. Bybit requires KYC for account access, collaborating with banks like QNB and DMZ Finance.

CEO Ben Zhou announced Bybit’s plans for banking services. Bybit partners with QNB, DMZ Finance, and Pave Bank in Georgia. The service aims to support transfers in 18 currencies, pending regulatory approval. Further information on the new banking services is pending response from Bybit.

Zhou stated that Bybit’s banking product will simplify transactions, enabling users to car or apartment payments hassle-free. This story is developing, with updates to follow. For more on crypto laws and industry changes, check out Cointelegraph’s magazine.

Read more at Cointelegraph: Bybit Launches Retail Bank Accounts With Personal IBANs