Cryptocurrency exchange Bybit has taken another step in strengthening its presence across Europe after its payments arm secured regulatory approval in Austria, paving the way for a broader range of financial services across the region.
The newly granted authorization allows the company to prepare for the rollout of electronic money and payment products, complementing its existing crypto services under European regulations.
Austrian Regulator Grants Electronic Money Institution Approval
Bybit announced that its subsidiary, Bybit Payments GmbH, has been awarded an Electronic Money Institution (EMI) license by Austria’s Financial Market Authority.
The approval provides the legal framework for the company to introduce regulated payment services in the future.
These offerings may include peer-to-peer money transfers, payment solutions for businesses, open banking functionality, and card-based financial products designed for European customers.
Separate Entities to Handle Crypto and Payment Services
The exchange explained that its payment operations will function alongside Bybit EU GmbH, another Austria-based entity that already holds authorization under the European Union’s Markets in Crypto-Assets (MiCA) framework.
Since obtaining its MiCA approval in May 2025, Bybit EU GmbH has been responsible for delivering cryptocurrency-related services throughout most of the European Economic Area (EEA).
While both companies will operate under the Bybit brand, they will remain legally distinct, each managing different regulatory responsibilities.
Clear Division of Regulatory Responsibilities
According to the company, Bybit EU GmbH will continue overseeing crypto-focused services, including digital asset custody, trading, transfers, and token placement.
Meanwhile, Bybit Payments GmbH will focus exclusively on regulated payment and electronic money products as those services are introduced to customers.
Bybit said maintaining separate regulatory structures allows each business unit to operate within its respective compliance framework.
Most EEA Markets Covered, With One Exception
The payment services are expected to be available through Bybit.eu across the European Economic Area.
However, Malta has been excluded from the platform’s current coverage.
The company did not provide a specific explanation for Malta’s omission but noted on its website that its services are offered only in jurisdictions where all required MiCA passporting conditions have been successfully completed.
License Expected to Strengthen Financial Partnerships
Beyond expanding its product lineup, Bybit believes the new authorization could improve its relationships with banks, payment processors, and enterprise partners.
The exchange also expects the license to reduce its dependence on third-party payment providers by allowing it to develop more of its payment infrastructure under its own regulated framework.
The latest approval marks another milestone in Bybit’s European expansion strategy as the company continues building regulated financial and cryptocurrency services under the EU’s evolving digital asset framework.
