Bybit taps OpenPayd for global fiat infrastructure

By Divya Shah

OpenPayd, a financial infrastructure provider, has been selected by cryptocurrency exchange Bybit to support its global fiat operations and settlement flows, as the exchange seeks to streamline payments, foreign exchange and account management across multiple markets. 

Through a single API integration, Bybit is using OpenPayd’s platform to access virtual IBANs linked to international payment networks, including USD SWIFT rails, alongside foreign exchange (FX) services.  

The integration enables the exchange to manage institutional settlement activities as well as retail customer deposit and withdrawal services within a unified infrastructure environment. 

Lux Thiagarajah, Chief Commercial Officer at OpenPayd, said, “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 a global scale.” 

The partnership is designed to help Bybit simplify the collection, conversion and settlement of funds across its global operations. By consolidating payment accounts, settlement capabilities and FX services on a single platform, the exchange aims to improve operational efficiency and provide a more consistent user experience. 

For a global exchange handling large volumes of deposits, withdrawals and treasury transactions across multiple jurisdictions, managing money movement can be operationally complex. OpenPayd said its infrastructure enables Bybit to standardise these processes, improve reconciliation, reduce dependency on multiple service providers and simplify global fund flows. 

Victoria Kilikyan, Deputy Head of Fiat at Bybit, said fiat accessibility remains an important element of the digital asset ecosystem. She noted that the integration with OpenPayd will enable eligible users to fund their accounts in USD through bank transfers, while providing the infrastructure needed to support the exchange’s institutional client base. 

The collaboration reflects growing demand among digital asset firms for integrated banking, payments and settlement infrastructure as they seek to bridge traditional finance and cryptocurrency services.