Bybit Secures Austria EMI License for EU Payments Expansion

August 5, 2025 — Bybit has obtained an Electronic Money Institution license in Austria, enabling its payments subsidiary to offer regulated electronic money and payment services across the European Union. Austria’s Financial Market Authority granted the EMI license to Bybit Payments GmbH on Aug. 4, marking a significant regulatory milestone for the crypto exchange’s European expansion strategy.

Immediate Details & Direct Quotes

Bybit Payments GmbH, headquartered in Vienna, received authorization under Austria’s E-Money Act 2010 and Payment Services Act 2018. The license permits the company to issue electronic money and provide regulated payment services, including incoming and outgoing payments, payment transactions, and issuing and acquiring payment instruments.

“This licence enables Bybit Payments GmbH to build regulated payment capabilities that complement the crypto-asset services offered by Bybit EU GmbH,” said Bernhard Krick, managing director of Bybit Payments GmbH. Krick emphasized that preserving a clear distinction between the two entities is essential because each company must remain within its approved regulatory scope.

Georg Harer, managing director of Bybit EU GmbH and Bybit Payments GmbH, noted that Europe is setting the global benchmark for how digital assets and financial services can evolve together under clear regulation. The EMI license and Bybit’s existing Markets in Crypto-Assets authorization create complementary regulatory foundations for crypto assets, payments and other financial services.

Market Context & Reaction

The approval gives Bybit a second regulated entry point in Europe, following its MiCA authorization for crypto-asset services. Bybit Payments GmbH will operate independently from Bybit EU GmbH, which handles the exchange’s crypto services under MiCA. Customers can access both service categories through Bybit.eu, but each subsidiary remains responsible only for activities covered by its respective authorization.

As of this week, Bybit’s payments unit is considering introducing person-to-person transfers, electronic money products and Strong Customer Authentication features. The company is also exploring open banking tools, merchant payment services and payment cards, though these offerings remain subject to further regulatory requirements and product approvals. Bybit did not provide a launch schedule or specify which European markets would receive the services first.

The Austrian approval does not extend Bybit.eu services to customers in the United States. European financial licenses generally apply within the European Economic Area and do not replace federal or state approvals required for serving US customers.

Background & Historical Context

Bybit’s European expansion comes amid broader regulatory developments across the crypto industry. In July, Bybit launched a domestic platform in Indonesia after acquiring a majority stake in PT Enkripsi Teknologi Handal, previously known as NOBI. That acquisition established Bybit Indonesia as a local entity supervised by Indonesia’s Financial Services Authority, known as the OJK.

The European regulatory landscape differs significantly from the United States. MiCA provides a single regional framework for crypto-asset regulation, while the US has no direct equivalent. Crypto companies offering payment services in the US may instead face a combination of federal obligations and state-by-state money transmitter licensing requirements.

The separation between Bybit’s payment and crypto operations reflects the division between electronic money regulation and crypto-asset supervision in Europe. An EMI license covers fiat-linked payment activities, while a MiCA authorization governs services such as crypto trading, custody and transfers.

What This Means

Bybit’s next step will be converting its Austrian authorization into consumer-facing payment products. The company’s ability to launch cards, merchant tools and open banking services will depend on regulatory clearances, technical integration and the markets selected for the initial rollout.

The dual-license structure allows Bybit to offer a unified interface through Bybit.eu without combining its payment and crypto operations under one regulatory permission. This approach provides regulatory clarity while maintaining operational separation between fiat payment services and crypto-asset offerings.

For traders and users in the European Economic Area, the development signals expanding service options from Bybit, potentially including regulated payment cards and merchant services in the future. However, specific launch timelines and market availability have not been announced.