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Crypto exchange Bybit is suspending US dollar-denominated deposits and withdrawals via bank transfers, including SWIFT payments.
Dollar wire deposits have been temporarily suspended and withdrawals will be halted on March 10, the platform said on its website, citing “service outages from our end-point processing partner.â€
Bybit said customers can use other methods to buy and withdraw crypto. It didn’t identify the processing partner behind the suspension of bank transfers.
You may continue to make USD deposits via the Advcash Wallet, or buy cryptocurrencies with your credit card on our One-Click Buy page.
Bybit’s move comes amid the unraveling of the crypto payments network operated by ailing US lender Silvergate Capital Corp.
The round-the-clock, real-time system was used by a host of exchanges and investors but was discontinued last week.
The crypto industry has long struggled for ready access to banks.
US officials have intensified a clampdown following the collapse of the FTX exchange, warning lenders of the risks of doing business with the digital-asset sector.