Bybit wins Austrian EMI license for European payment services

Bybit has expanded its European regulatory footprint after Bybit Payments GmbH, its Austrian subsidiary, secured an Electronic Money Institution license from Austria’s Financial Market Authority, enabling the company to offer regulated payment services alongside its crypto business, according to a Tuesday announcement. According to Georg Harer, legal and compliance head at Bybit EU and co-CEO of Bybit EU GmbH, Europe’s regulatory approach is setting a global example for the convergence of digital assets and financial services. He said the new EMI license complements Bybit EU’s MiCAR authorization. “The EMI license granted to Bybit Payments GmbH is an important milestone in our long-term commitment to Europe. Together with the MiCAR authorization held by Bybit EU GmbH, it creates complementary regulatory foundations for connecting crypto-assets, payments and everyday financial services through the Bybit.eu platform,” Harer stated. Under the new structure, Bybit Payments GmbH will provide e-money and payment services, while Bybit EU GmbH will continue to deliver crypto-asset services under its existing MiCA license. The services will be integrated through the Bybit.eu platform, altho...