Bybit Unveils Ambitious Plans for Regulated Derivatives and Tokenized Stocks in Europe
Bybit, a cryptocurrency exchange based in Dubai, is set to launch a 'super app' in Europe that will integrate regulated derivatives and tokenized stock services on top of its existing spot trading platform. According to Ben Zhou, founder and CEO of Bybit, the platform has obtained an EMI license from Austria's Financial Market Authority (FMA) and is soon expected to receive a MiFID license.
With these three licenses in place, Bybit will be able to offer services similar to Revolut, allowing users to open bank accounts, obtain IBANs for receiving salaries, paying bills, and making local transfers. Additionally, the platform will support stablecoins and cryptocurrencies.
The MiFID license will enable Bybit to provide regulated derivatives, including options on stocks like Apple and Tesla, as well as contracts for difference (CFDs) on gold, silver, and other commodities. This move is seen as a significant expansion of Bybit's services in the European market.