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 benchmark for how digital assets and financial services can evolve together under clear regulation,” said Georg Harer, managing director of Bybit EU GmbH and Bybit Payments GmbH.
Harer said the EMI license and Bybit’s existing Markets in Crypto-Assets authorization create complementary regulatory foundations for crypto assets, payments and other financial services.
Bybit keeps payments and crypto services separate
Bybit Payments GmbH will operate independently from Bybit EU GmbH, the entity responsible for the exchange’s crypto-asset services under MiCA.
Customers will be able to access both service categories through Bybit.eu, but each subsidiary will remain responsible only for activities covered by its respective authorization. The structure allows Bybit to offer a unified interface without combining its payment and crypto operations under one regulatory permission.
“This licence enables Bybit Payments GmbH to build regulated payment capabilities that complement the crypto-asset services offered by Bybit EU GmbH,” said Bernhard Krick, managing director of Bybit Payments GmbH.
Krick added that preserving a clear distinction between the two entities is essential because each company must remain within its approved regulatory scope.
The arrangement reflects the division between electronic money regulation and crypto-asset supervision in Europe. An EMI license covers fiat-linked payment activities, while a MiCA authorization governs services such as crypto trading, custody and transfers.
License opens path to cards and open banking
Bybit said its payments unit could eventually introduce person-to-person transfers, electronic money products and Strong Customer Authentication features. The company is also considering open banking tools, merchant payment services and payment cards.
Those offerings remain subject to further regulatory requirements and product approvals. Bybit did not provide a launch schedule or specify which European markets would receive the services first.
The authorization gives the exchange another regulated entry point as it expands through locally supervised subsidiaries. In July, Bybit launched a domestic platform in Indonesia after acquiring a majority stake in PT Enkripsi Teknologi Handal, previously known as NOBI.
The acquisition established Bybit Indonesia as a local entity supervised by Indonesia’s Financial Services Authority, known as the OJK. Its rollout began with plans to support more than 500 trading pairs while using Bybit’s global liquidity and locally required market controls.
EU framework contrasts with US crypto rules
The Austrian approval does not extend Bybit.eu services to customers in the United States. European financial licenses generally apply within the European Economic Area and do not replace federal or state approvals required for serving US customers.
However, the expansion shows how MiCA and existing European payment laws can provide separate but coordinated regulatory routes for crypto trading and fiat payment services.
The US has no direct equivalent to MiCA’s single regional framework. Crypto companies offering payment services may instead face a combination of federal obligations and state-by-state money transmitter licensing requirements.
Bybit’s next step will be converting its Austrian authorization into consumer-facing payment products. Its ability to launch cards, merchant tools and open banking services will depend on regulatory clearances, technical integration and the markets selected for the initial rollout.
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