Bybit Taps OpenPayd to Streamline Global Fiat Settlement
- —Bybit consolidates banking, USD settlement and FX into one API via OpenPayd
- —The setup includes virtual IBANs for institutional and retail settlement
- —Single provider cuts the number of intermediaries in cross-border transfers
- —Consolidation raises reliance risk on a single infrastructure provider
Why it matters: Streamlined fiat rails lower Bybit's operational costs and could speed up institutional client onboarding.
Source: CoinTrust