Bybit suspends USD payments via bank transfer

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Bybit suspends USD payments via bank transfer

By Benson Toti - min read
  • USD payments suspension impacts both national and international bank transfers.
  • Bybit will also pause USD withdrawals as from 10 March 2023.
  • Customers can however continue to buy crypto with credit or debit cards.

Bybit, one of the world’s leading crypto exchanges, will be suspending the US dollar (USD) payment option “until further notice,” a notice issued to customers on Saturday detailed.

The move follows a similar one taken earlier this year by Binance, the world’s largest crypto exchange. CoinJournal highlighted Binance’s announcement in early February, and recently reported on how crypto-friendly bank Silvergate has increasingly found itself in trouble amid concerns about its solvency.

Bybit suspends USD deposits and withdrawals

According to the crypto platform, the suspension of USD deposits is down to service outages involving a partner. The exchange will also be halting USD withdrawals beginning 10 March 2023.

We have temporarily suspended USD deposits via Wire Transfer (including SWIFT) due to service outages from our end-point processing partner until further notice,” the crypto exchange notified its customers.

While users can still withdraw USD via WireTransfer up to 10 March, that option will be temporarily disabled on the noted dates. Instead, customers will be able to buy crypto with credit card or withdraw cryptocurrencies to their wallet.

Bybit has also announced that it is delisting several cryptocurrency trading pairs. The spot trading pairs whose support ends as of 10 March include NXD/USDT, POSI/USDT, GAS/USDT, and DRIV/USDT among others. 

The delisted tokens have failed to meet listing requirements, the exchange noted.