In a strategic move, Bybit obtains its MiCA license in Austria and establishes its European headquarters in Vienna, solidifying its presence in the 29 EEA countries through the European passport.
Bybit Obtains its MiCA License in Austria
It’s official: Bybit, the world’s second-largest crypto exchange platform, has just secured its MiCA license from the Austrian Financial Market Authority (FMA). A strategic step for the Dubai-based giant, reinforcing its foothold in Europe by choosing Austria as the hub for its regulated services in the EEA.
Objective: 500 Million Europeans
With this breakthrough, Bybit can now offer its regulated crypto services in all 29 EEA member states, thanks to the European passport mechanism. This decision positions Austria as a new MiCA regulation hub, alongside another local heavyweight, Bitpanda. Therefore, Vienna becomes the nerve center of Bybit’s European operations.
Obtaining this license showcases our compliance-focused approach.We aim to provide our users with an innovative platform, but framed within the strictest regulatory standards.”
Ben Zhou, CEO of Bybit
More than a license, a strategic foothold
The announcement goes beyond mere administrative clearance. Bybit plans a significant investment in Austria with the hiring of over 100 employees in Vienna. Simultaneously, the company pledges a strong commitment to the local ecosystem, with university partnerships through the Blockchain for Good Alliance (BGA) initiative, aiming to educate the next generation of crypto innovators.
“We aim to contribute to Austria’s financial environment of tomorrow by investing in local talent and practical blockchain applications,” explains Mazurka Zeng, CEO of Bybit Europe.
An Ambitious Restart After a Setback
This European expansion comes just months after a dark episode for Bybit. In February, the platform fell victim to the largest hack in cryptocurrency history, with over $1.5 billion stolen. A shock to the industry, but also a litmus test for the exchange’s resilience, which has since bolstered its security and adopted a more proactive regulatory stance.
Shortly before, Bybit announced its withdrawal from the French market after spending a considerable time on the AMF’s blacklist.
With this MiCA license, Bybit turns a new leaf and aims to position itself as a key player in the European web3. The message is clear: the era of crypto’s Wild West is coming to an end, and Bybit wants to be among those building the regulated framework of the future.
