Bybit, the world’s second-largest crypto exchange by trading volume, has secured the EU’s Markets in Crypto-Assets (MiCA) license. Announced today by Austria’s Financial Supervisory Authority (FMA), this milestone marks a significant step for the company’s European ambitions. The license allows the exchange to operate seamlessly across all 27 EU member states, boosting its credibility.
Bybit Expands with MiCA License
Bybit secured the MiCA license through rigorous compliance with the FMA’s regulatory standards. The process involved detailed audits of the platform’s security protocols, financial stability, and consumer protection measures. The approval grants the exchange a unified regulatory passport, enabling operations across the EU without separate licenses.
The license opens doors for Bybit to expand services, attract institutional investors, and enhance user trust. With Vienna as its European hub, the exchange aims to leverage Austria’s crypto-friendly environment for growth.
The Vienna hub will act as a center for these efforts, strengthening ties with local stakeholders and the broader European crypto ecosystem. The exchange’s investment in Austria signals its long-term commitment to an innovative digital finance environment.
Bybit is set to strengthen its expansion efforts by recruiting over 100 professionals in Vienna, thereby promoting local talent and contributing to economic growth in the region. Mazurka Zeng, CEO of Bybit Europe, emphasized that obtaining this license reveals that the company is committed to being transparent and dedicated to sticking to the strict regulatory standards upheld in Europe.
Firms Embrace EU’s Crypto-Friendly Environment
The EU’s MiCA framework, effective since 2023, promotes a unified, crypto-friendly regulatory environment across member states. It emphasizes consumer protection and financial integrity, making the EU attractive for crypto ventures. Firms like Bitpanda, based in Austria, and Crypto.com, with a MiFID license, thrive under MiCA’s clarity. BitGo also secured a MiCA license in Germany, expanding custody services for institutions.
This accommodating stance encourages innovation and positions the EU as a global crypto hub. Bybit plans to capitalize on its MiCA license by rolling out new products and targeting institutional investors across Europe.
