Bybit’s neobank plans test crypto exchanges’ push into banking

From cointelegraph.com

Bybit’s push to offer neobank-style services is testing how far crypto exchanges can expand into traditional finance (TradFi), highlighting regulatory hurdles and a growing reliance on licensed banking partners. Bybit CEO Ben Zhou announced the exchange’s push into retail banking on Thursday, with a planned February launch of its retail banking product, MyBank. The move would mark one of the most ambitious attempts yet by a major exchange to offer bank-like services to retail users. As crypto increasingly intersects with TradFi, industry observers and executives warned that Bybit’s neobank move could trigger ... (full story)