Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has selected OpenPayd to unify its global fiat settlement infrastructure and on/off-ramp operations. The integration, announced September 23, 2026, allows Bybit to access virtual IBANs, USD SWIFT connectivity, and foreign exchange capabilities through a single API, consolidating institutional settlement flows and retail client funding within one platform.
- Exchange scale: Bybit serves over 80 million users globally
- Integration scope: USD settlement, account infrastructure, and FX consolidated into a single environment
- OpenPayd annual volumes: $300 billion processed across 1,200 businesses
The partnership addresses operational complexity inherent to high-volume exchanges managing deposits, withdrawals, and treasury movements across multiple jurisdictions. By consolidating these functions, Bybit standardises money flows within a unified framework, improving reconciliation and reducing reliance on fragmented third-party providers. USD connectivity remains critical for the crypto sector as institutional participation deepens and exchanges demand scalable infrastructure supporting both retail and institutional users.
Supporting both institutional settlement and customer on/off-ramping requires accounts, global payment rails and FX to work together, rather than as fragmented functions. By bringing these capabilities into a single infrastructure layer, we’re proud to support Bybit in managing increasingly complex money flows efficiently as it continues to operate at global scale.
– Lux Thiagarajah, Chief Commercial Officer, OpenPayd
Fiat access remains a critical part of the crypto experience, and improving the connection between traditional banking and digital assets is key to broader adoption. Our integration with OpenPayd gives eligible users a more direct way to fund their Bybit accounts in USD and access global crypto liquidity, while providing the reliable infrastructure needed for both retail and institutional use.
– Victoria Kilikyan, Deputy Head of Fiat, Bybit
The integration reflects a broader industry shift toward treating fiat and digital assets as components of a unified financial system. OpenPayd, founded in 2018, operates a rails-agnostic platform enabling money movement across fiat and digital assets for global clients including eToro, Kraken, and OKX. As global trading volumes rise and user expectations increase, exchanges increasingly require infrastructure capable of unifying banking rails, account structures, and currency conversion into single platforms.
Lux Thiagarajah, Chief Commercial Officer at OpenPayd. Source: LinkedIn
Victoria Kilikyan, Deputy Head of Bybit Fiat. Source: LinkedIn
