Bybit Splits Crypto and Payments in Austria Under Separate Licences

Bybit has split its crypto and payments businesses into two separate entities in Austria. Bybit Payments GmbH, which has been granted an electronic money institution licence, will handle payment services.

The new entity is regulated under PSD2, requiring specific capital and risk management obligations. This differs from the MiCA-authorised crypto business, which falls under a different EU regime.

Bybit EU GmbH has held its MiCA authorisation since May 2025, covering crypto custody, exchange, and client transfers.

The separation of entities is necessary because there is no single EU licence that covers both crypto custody and payment services. Other exchanges, such as Kraken and Crypto.com, have also kept their crypto and payments businesses under separate licences.