Bybit Suspends USD Bank Transfers Due to Partner Issues

bybit7 min
bybit7 min

Cryptocurrency exchange Bybit has suspended accepting deposits in US dollars through the SWIFT system and bank transfers (for US credit institutions). The decision was explained by “interruptions in service on the side of the partner.”

The company said that users can make dollar deposits through Advcash e-wallets or buy cryptocurrencies with credit cards.

Withdrawals in US dollars via SWIFT and bank transfers are available until March 10, 2023.

“If you wish to withdraw USD as soon as possible, please do so as soon as possible to avoid potential disruptions that may arise due to the circumstances,” the platform said in a statement.

The company also noted that it will “soon” allow users to access withdrawals via Advcash.

Recall that Bybit is one of the largest creditors of Genesis Global, which filed for bankruptcy. The co-founder and CEO of the platform, Ben Zhou, ruled out the negative impact of the situation around the crypto-lending platform on the core business of the exchange.

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