Bybit Payments GmbH, the European payments subsidiary of cryptocurrency exchange Bybit, has secured an electronic money institution license from Austria. This authorisation allows the group to operate payment and e-money services through its Bybit.eu platform within the European Economic Area. The EEA excludes Malta from this provision.
The licence was granted by Austria’s Financial Market Authority. Bybit operates both Bybit Payments GmbH and Bybit EU GmbH, signalling a broadened regional strategy for the exchange. This expansion aims to provide a wider range of services through its established platform.
Bybit Payments GmbH is now authorised to offer services including person-to-person payments, merchant payment solutions, open banking features and card products. These functionalities will be available to users across the European Economic Area, with operations in Malta specifically excluded. The regulatory framework ensures a differentiated approach for Bybit EU GmbH and Bybit Payments GmbH.
The two entities maintain separate regulatory permissions and responsibilities, reflecting compliance with established oversight. This multifaceted approach underscores Bybit’s commitment to operating within evolving financial regulations. While the Austrian licence represents a key step, MiCA passporting requirements remain unmet across all jurisdictions.
Written by Steven Cook
Regulation Desk
