Bybit Aims for Comprehensive European Financial Platform with Crypto, Equities, and Banking

Bybit, a leading cryptocurrency exchange with over 80 million users worldwide, is expanding its European presence by developing an all-in-one financial platform that combines crypto, equities, and banking services.

The platform has secured MiCA authorization in Austria, allowing it to operate throughout the European Union. Bybit's CEO, Ben Zhou, envisions a platform similar to Revolut but with integrated cryptocurrency capabilities.

Bybit is pursuing MiFID II credentials to provide regulated derivative instruments and direct access to traditional equity markets. The exchange also aims to obtain an electronic money institution credential, enabling customers to maintain IBAN accounts, salary deposit functionality, and domestic payment transfer services.

The platform will allow customers to hold traditional equities like Apple and Tesla alongside digital currencies within a unified account. Bybit is expected to receive MiFID II approval within two months, after which it plans to establish connections with partners like Alpaca or Saxo Bank for direct equity trading.