The Financial Market Authority of Austria (FMA) granted Bybit Payments GmbH an Electronic Money Institution (EMI) license under the E-Money Act 2010. The company confirmed that this authorization allows it to issue electronic money and provide regulated payment services, including incoming and outgoing transactions and payment instruments in the European market.
This milestone complements the exchange’s previous authorization under MiCA regulations for crypto-asset services. By operating Bybit Payments GmbH independently from Bybit EU GmbH, the company keeps fiat currency and digital asset licenses separate while integrating both user experiences under the single domain Bybit.eu.
With this regulatory framework, Bybit strengthens its institutional position on the continent within a supervised structure. The company’s next step will be to process the necessary regulatory approvals to gradually roll out P2P transfers, open banking solutions, merchant payments, and payment cards.
Source: https://lix.li/V9FL
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