Bybit Selects OpenPayd To Unify Global Fiat Settlement And On/Off-Ramp Infrastructure
In Brief
Bybit partners with OpenPayd to unify global fiat settlement, USD payment rails, and on/off-ramp infrastructure through a single API integration.
OpenPayd, a prominent provider of financial infrastructure, has been selected by Bybit, the world’s second-largest cryptocurrency exchange by trading volume, serving more than 80 million users worldwide, to underpin its global fiat operations and settlement flows.
Bybit is utilising OpenPayd’s platform through a single API integration across its worldwide operations, gaining access to virtual IBANs linked to international payment rails, including USD SWIFT, as well as foreign exchange functionality. The infrastructure accommodates both institutional settlement flows and retail client on/off ramping within one unified environment, allowing Bybit to improve the way funds are collected, converted and settled across its operations.
Managing substantial volumes of deposits, withdrawals and treasury movements across multiple jurisdictions presents considerable operational challenges for an exchange of Bybit’s magnitude. By centralising USD settlement, account infrastructure and FX through OpenPayd, Bybit standardises these processes in a single environment, which strengthens reconciliation, lessens dependence on numerous providers and establishes a more uniform framework for global money movement.
The collaboration arrives at a time when digital asset platforms are experiencing growing demand for dependable fiat connectivity, especially in USD, which continues to play a central role in trading, liquidity provision and stablecoin settlement. With institutional involvement expanding, exchanges are increasingly focusing on infrastructure capable of supporting predictable, compliant and scalable transfers between fiat and digital asset markets without fragmentation.
Infrastructure Unification Becomes Central to Exchange Strategy
“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,” said Lux Thiagarajah, Chief Commercial Officer at OpenPayd in a written statement. “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,” he added.
“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,” said Victoria Kilikyan, Bybit’s Deputy Head of Fiat in a written statement. “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,” she added.
The integration demonstrates how exchanges are refining their infrastructure to position fiat and digital assets as components of a unified financial system. As global trading activity grows and user expectations rise, the capacity to consolidate banking rails, account structures and currency conversion into a single platform is emerging as a fundamental element of digital asset market infrastructure.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
