“The exchange is working with local banks like Pave Bank to enable fiat-to-crypto conversions and encourage digital asset adoption.”, — write: www.coindesk.com
The “MyBank” service will go live in February, subject to regulatory approval, and will allow users to send and receive 18 fiat currencies using International Bank Account Numbers (IBANs), Bloomberg reported on Thursday, citing the firm’s CEO Ben Zhou.
Crypto neobanks have helped digital asset firms separate themselves from traditional financial platforms (TradFi) with services such as payments. Various crypto neobanks are currently competing for dominance, including Ether.fi, Kast, and Offramp.
Bybit’s MyBank accounts are being offered in partnership with local banks, including Pave Bank, a Georgia-licensed lender. MyBank users will be able to convert fiat to crypto instantly after a deposit, streamlining the process of entering digital assets from the banking system.
It’s a reversal of the model used by fintech companies like Revolut and Robinhood, which added crypto features after building up their banking tools. Bybit has already been building out its payments offering, including earlier this year linking its Bybit Pay service with digital wallets in Peru.
The expansion comes as Bybit eyes broader international growth. CEO Ben Zhou said the company is considering US market entry, but would need a licensed partner to proceed.
Dubai-based Bybit says it has over 81 million users across more than 200 countries and points to a US public listing as its long-term goal.
The exchange did not immediately respond to CoinDesk’s request for further comment.
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
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The USDU stablecoin is issued by Universal Digital, a crypto firm regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
- Reserves backing USDU are held 1:1 in safeguarded onshore accounts at Universal’s banking partners: Emirates NBD and Mashreq, with Mbank.
- Digital asset infrastructure firm Aquanow has been appointed as a global distribution partner, supporting institutional access to USDU outside the UAE.
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