Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has launched USD deposit support through a new integration with OpenPayd, a financial infrastructure provider that connects traditional fiat banking with crypto payment rails. The feature gives eligible users a way to fund their Bybit accounts directly in USD and trade USD pairs without an extra currency conversion step.
The integration runs through a single API connection to OpenPayd, giving Bybit access to global payment rails, including USD SWIFT transfers with built-in foreign exchange, on a single platform. It is designed to support both retail deposits and withdrawals as well as larger institutional settlement, giving Bybit one consistent, compliant channel to collect, convert, and settle funds across markets.
Victoria Kilikyan, Bybit’s Deputy Head of Fiat, tied the launch to a broader push toward making it easier to move between traditional money and crypto.
“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. This is another step toward making moving between fiat and crypto as seamless as possible,” stated Kilikyan.
Lux Thiagarajah, Chief Commercial Officer at OpenPayd, framed the deal from the infrastructure side, pointing to the challenge of supporting an exchange operating at Bybit’s scale.
“Bybit operates at an impressive scale, where it becomes increasingly important that moving between fiat and digital assets is supported by financial infrastructure that can keep pace. 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,” noted Thiagarajah.
For eligible users, the practical changes are straightforward: a flat $11 deposit fee regardless of transfer size, direct trading on USD pairs without a prior conversion step, and faster access to funds after a transfer is confirmed. Deposits are made via bank transfer using generated SWIFT details, with funds credited to the user’s USD balance once confirmed.
For everyday users, this additional feature is more about one less step in an existing routine. Funding an account in USD and trading USD pairs should now happen without a separate conversion in between. The more interesting part is what it says about Bybit and OpenPayd. Crypto exchanges are increasingly leaning on the same reliable banking infrastructure that traditional finance has had for decades, and deals like this one are how that gap gets closed.
Herald View: A flat $11 deposit fee and a SWIFT-based transfer flow sound almost mundane next to the usual crypto headlines, and that’s precisely the point. As exchanges chase institutional money and deeper liquidity, being able to move fiat in and out reliably matters as much as any new trading product. Bybit isn’t pitching this as innovation, it’s pitching it as plumbing, and plumbing is usually what determines whether an exchange scales past retail hype into something institutions are comfortable parking real money in.