Bybit Wants One Connection for the Fiat Side of Its 80M-User Crypto Business

Bybit already has plenty of ways to get money into crypto. The more interesting part of its latest deal with OpenPayd is how much of the machinery underneath those transactions is being collapsed into one connection.

Through a single API, OpenPayd is giving Bybit access to USD SWIFT, virtual IBANs, foreign exchange, retail fiat on/off-ramps and institutional settlement. Instead of stitching together different providers for different parts of the money-moving process, Bybit can run more of its fiat infrastructure through the same system.

For an exchange serving more than 80 million users, that is a different proposition from simply adding another deposit method.

The Other Side of Bybit’s Payments Push

The distinction becomes clearer alongside Bybit’s recent integration with Mesh.

Mesh expanded what users can do with crypto they already hold, connecting Bybit Pay to infrastructure spanning 300+ wallets and exchanges. Users can pay directly from assets sitting in their Bybit account rather than first moving them somewhere else.

OpenPayd tackles the other side of the equation: getting traditional money into Bybit, converting it, settling it and eventually getting it back out.

Put simply, Mesh helps Bybit crypto travel farther. OpenPayd is working on the banking infrastructure underneath it.