Bybit Secures Austrian EMI License for European Expansion

Bybit has secured an Electronic Money Institution (EMI) license from Austria’s Financial Market Authority, granting the exchange a regulatory foundation to offer e-money and payment services across the European Economic Area [1, 3]. This move allows the firm to integrate traditional financial capabilities, such as card products and merchant solutions, alongside its existing crypto-asset services [1, 2].

Expanding the European regulatory stack

The EMI license, granted to the subsidiary Bybit Payments GmbH, complements the existing authorization held by Bybit EU GmbH, which has been regulated under the European Union’s Markets in Crypto-Assets Regulation (MiCAR) since May 2025 [1, 3]. While both entities operate under the Bybit.eu platform, they maintain distinct regulatory permissions and responsibilities to comply with regional mandates [2, 3]. Bybit EU GmbH remains responsible for crypto-asset services, including custody and exchange, while Bybit Payments GmbH will manage regulated e-money and payment products as they are introduced [1, 2].

The company stated that this dual-entity structure is intended to strengthen relationships with traditional financial institutions and enterprise partners [1, 3]. By developing internal payment capabilities, Bybit aims to reduce its long-term reliance on third-party payment infrastructure [1, 3]. While the platform is available across the European Economic Area, the company has excluded Malta from its service coverage, citing that services are limited to jurisdictions where applicable MiCA passporting requirements have been met [1, 3].

Future payment capabilities

The FMA authorization provides the legal framework for several planned features, including person-to-person payments, open-banking functionality, and merchant payment solutions [1, 3]. The firm also noted that the license supports the future rollout of card products and the implementation of Strong Customer Authentication [3].

Management has framed the license as a strategic milestone in its commitment to the European market, noting that the region is establishing a global benchmark for the convergence of digital assets and traditional finance [2, 3]. Despite the announcement, the exchange has not yet provided specific dates for the launch of these new payment products, stating only that further details regarding the rollout will be communicated in the near future [3].

What to watch

• Product Rollout: Monitor for specific launch dates regarding the integration of merchant payment solutions and card products on the Bybit.eu platform [3].
• Jurisdictional Expansion: Watch for updates on whether the exchange secures the necessary regulatory requirements to include Malta or other restricted regions in its service footprint [1, 3].
• Institutional Integration: Track the development of partnerships with traditional banks and payment providers as the firm moves to reduce its dependence on third-party infrastructure [1, 3].

The success of this expansion hinges on the firm's ability to maintain the operational separation between its MiCAR-authorized crypto services and its new EMI-regulated payment offerings. Whether this dual-entity approach effectively lowers costs and improves service reliability for European users remains the primary question for the platform's regional growth.