Bybit and Mesh announced a partnership on September 3, 2026 that lets Bybit’s 80 million users pay directly with their exchange balances across Mesh’s payments network. Bybit Pay is now a checkout option on any platform already connected to Mesh.
The Big Picture
- Bybit, the world’s second-largest crypto exchange by trading volume, partnered with Mesh to bring Bybit Pay to Mesh’s payments network.
- The deal, according to Bybit, covers 80 million Bybit users, who can now fund accounts and pay at checkout using assets already sitting in their Bybit balance.
- The integration removes the need to withdraw funds, convert assets manually, or move money between platforms before paying.
- Businesses already connected to Mesh can turn on Bybit Pay through their existing integration, with no separate technical build required.
- Bybit ranked second in centralized exchange spot market share for 2025 at 8.1%, well behind Binance’s 39.2%, per CoinGecko data.
Bybit Pay Goes Live on Mesh’s Network
Bybit, the world’s second-largest crypto exchange by trading volume, is bringing Bybit Pay to every platform already running Mesh’s payments infrastructure, the network founded in 2020 that connects hundreds of exchanges, wallets, and financial platforms.
Bybit users can now select Bybit Pay at checkout on any platform running Mesh, drawing directly from the crypto balance they already hold on the exchange. The mechanism is simple: instead of moving money before paying, the payment moves the money itself.
Before this deal, a Bybit user spending at a Mesh connected business had to withdraw funds, convert them, and deposit into a separate wallet first, a process Bybit Pay now collapses into one step by letting users pay directly from their existing Bybit holdings. Bybit has built one of the most engaged communities in crypto, said Bam Azizi, CEO and Co-founder of Mesh, who described Mesh’s approach as bringing payment rails to where money already sits rather than asking users to move it first.
We're partnering with Bybit Pay.@Bybit_Official users can now fund accounts and make payments on Mesh-powered platforms straight from their Bybit balance, without leaving the experience they're in.
— Mesh | We Are Hiring! (@meshpay) September 3, 2026
Users tap into whatever they hold. Platforms receive the asset they want. pic.twitter.com/w467R8Kydm
Businesses Get Direct Access to Bybit’s User Base
Businesses already using Mesh can enable Bybit Pay through their existing integration, giving them a direct channel to Bybit’s user base without a separate technical build. Sophie Chen, Head of Marketing for Bybit Card & Pay, said the feature closes the gap between holding digital assets and spending them, letting users pay from their existing Bybit balance while merchants still receive the asset they prefer.
Bybit Pay also supports programmable settlement options, giving businesses more control over how and when funds settle across markets. Mesh, founded in 2020, connects hundreds of exchanges, wallets, and financial platforms into one payments layer, and adding an exchange with Bybit’s scale tests whether that network carries real payment volume, not just partner counts.
Bybit and Mesh have not disclosed a fee schedule, merchant list, or transaction-volume data yet.
Exchanges Are Competing on Payment Rails, Not Just Fees
Bybit’s Q1 2026 spot trading volume was an estimated $215 billion, down 41% quarter-over-quarter, while Binance’s Q1 2026 spot volume was an estimated $810 billion, down 34% over the same period. That means Binance moved roughly 3.8 times as much spot volume as Bybit last quarter.
Bybit held an estimated 12% of derivatives market share in Q1 2026, and its Q3 2025 derivatives volume was $376 billion. That diversified balance sheet, plus Bybit’s record of making users whole after its February 2025 hack, builds spendable balance trust.
CoinLaw’s Takeaway
This deal reads as an attempt to solve a specific friction point rather than a product launch. The multi-step withdraw-convert-deposit process has been a persistent drag on crypto payments adoption, and Bybit Pay’s pitch is that removing it will get more users actually spending, not just holding. Whether that plays out depends on data neither company has published yet: how many merchants go live, what the arrangement costs each side, and whether people actually route everyday purchases through an exchange balance instead of a card.
The bigger signal is what exchanges are competing on next. Bybit trails Binance by a wide margin on spot share and spot volume, so a payment feature that makes a balance spendable is a cheaper way to hold users than trying to out-price a much larger rival. Bybit and Mesh are betting that convenience, not incentives, is what finally moves that behavior. This is not investment guidance, and nothing here should be read as an endorsement of holding or spending crypto through any specific platform.
