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Bybit • Latest Bybit News
Tags: P2P
Dear P2P Community in Azerbaijan, effective starting Oct 14, 2025:
We are committed to providing you with the safest and most reliable P2P trading experience.
In line with this commitment and local regulatory requirements, we are excited to announce a new security integration for our users trading with the Azerbaijani Manat (AZN) or who have completed Azerbaijan (AZE) Identity Verification.
We have integrated a trusted third-party service, In-Switch, to help verify bank account ownership and transaction authenticity.
What this means for you: Safer and more compliant trading?
This integration significantly enhances the security of your P2P trades by helping to:
- Prevent impersonation: verify that a user's bank account name matches their Identity Verification information.
- Confirm payment authenticity: Ensure the payment was actually made through the specified bank account.
- Resolve disputes faster: Provide better tools to help resolve disputes quickly, reducing the time users wait for an outcome.
By helping prevent scams, reducing false payment claims and complying with local regulatory requirements, this new step fosters greater trust and security between buyers and sellers.
Who does this apply to?
The In-Switch verification step is mandatory for:
- P2P users who have completed Azerbaijan (AZE) Identity Verification.
- P2P users who are buying or selling in AZN Fiat.
Note: If your trades do not involve AZN or AZE KYC or AZN bank accounts, your P2P experience remains unchanged.
Transaction fees for In-Switch trades
Please be advised that all P2P trades involving the In-Switch verification will incur a small service fee to cover the costs of this enhanced security:
- Fee amount: A 0.25% service fee will be charged.
- Charged to: The fee applies to both the buyer and the seller for each relevant P2P order.
- Deduction: The fee will be automatically deducted from your transaction at the time of order completion.
- Non-refundable: This fee is part of the essential verification process and cannot be refunded, even if the order is disputed.
Important update for AZN P2P merchants (Makers)
As part of the initial launch, the In-Switch verification service currently supports the following payment methods in Azerbaijan: M10, Kapital Bank and Rabita Bank.
Impact on existing advertisements: To ensure all active advertisements comply with the new verification requirements:
- All existing P2P advertisements (ads) from makers who have completed AZE Identity Verification or are posting ads with AZN will be delisted when this product goes live.
- For affected merchants, once the feature is live, we’ll do a final round of checking which should not take more than one working day. Once done merchants can post new ads using the supported banks (M10, Kapital Bank & Rabita Bank)
We are actively working to expand support for more banks and payment services through In-Switch in the near future.
Source: Bybit Official Announcement — originally published on Mon, 13 Oct 2025 13:00:00 GMT.
