Bybit Gains EMI License from Austria's Financial Market Authority
Bybit has received an electronic money institution (EMI) license from Austria's Financial Market Authority for its payments unit, Bybit Payments GmbH.
The approval will allow Bybit to offer regulated payment services in Europe, including person-to-person transfers, merchant payment services, open banking functionality, and card products.
Bybit stated that the EMI authorization enables future payment capabilities, which may eventually include P2P, merchant solutions, open banking, and cards. The exchange also noted that payments will be offered through Bybit.eu alongside existing services from a separate Austrian crypto-licensed entity, Bybit EU GmbH.
The two entities, Bybit Payments GmbH and Bybit EU GmbH, have distinct regulatory permissions: one for e-money and payment-related activities, and the other for crypto services under the EU Markets in Crypto-Assets Regulation (MiCA).