Bybit secures Austria EMI license for EU payments

Bybit has secured an Electronic Money Institution license in Austria, allowing its local payments subsidiary to offer regulated electronic money and payment services across the European Union. Summary Austria’s FMA granted Bybit Payments GmbH an EMI license on Aug. 4. The license covers electronic money issuance and several regulated payment services. Bybit EU GmbH will continue handling crypto services under its separate MiCA authorization. Bybit plans to add payment cards, open banking and merchant services, subject to approval. Bybit gains approval for regulated EU payments Austria’s Financial Market Authority granted the license to Bybit Payments GmbH on Aug. 4 under the country’s E-Money Act 2010. The authorization allows the Vienna-based company to issue electronic money and provide payment services under Austria’s Payment Services Act 2018. Those permissions cover incoming and outgoing payments, payment transactions, and issuing and acquiring payment instruments, according to the FMA’s licensing notice. Bybit said the license gives its payments subsidiary a regulated foundation for expanding financial services across Europe through Bybit.eu. “Europe is setting the global ben...