Bybit Launches European Crypto Super-App with Revolut-Like Ambitions

Bybit, one of the largest cryptocurrency exchanges in the world by volume, is set to launch a 'super-app' in Europe that combines traditional banking functions with crypto asset trading and regulated derivatives.

The exchange has obtained an Electronic Money Institution (EMI) license in Austria and is close to adding a MiFID license, which will allow it to offer derivatives and tokenized stocks in Europe.

Bybit's CEO, Ben Zhou, compared the target model to Revolut, a fintech valued at $115 billion that operates with a full banking license in the EU and the UK.

The exchange already operates under a MiCA license in Austria but admits that this regime alone is not profitable due to high compliance costs and local competition.