Summary
Bybit has secured an Electronic Money Institution license in Austria, allowing its local payments subsidiary to offer regulated electronic money and payment services across the European Union. Austria's Financial Market Authority granted the license to Bybit Payments GmbH on August 4 under the country's E-Money Act 2010. The authorization covers electronic money issuance and several regulated payment services, including incoming and outgoing payments, payment transactions, and issuing and acquiring payment instruments. Bybit Payments GmbH will operate independently from Bybit EU GmbH, which handles crypto-asset services under MiCA, creating a dual-license structure for fiat payments and crypto services.
Key Facts
- Austria's FMA granted EMI license to Bybit Payments GmbH on Aug 4, 2026
- License covers electronic money issuance and payment services under Payment Services Act 2018
- Bybit Payments GmbH operates independently from Bybit EU GmbH (MiCA-licensed)
- Both entities accessible through unified Bybit.eu interface
- Bybit considering: P2P transfers, e-money products, SCA features, open banking tools, merchant services, payment cards
- Bybit also launched in Indonesia in July via PT Enkripsi Teknologi Handal acquisition
- EU framework contrasts with US state-by-state money transmitter licensing
- MiCA transitional period ends July 1, 2026 — CASPs without authorization must cease EU operations
Why It Matters
Bybit's dual-license strategy in Europe — an EMI license for fiat payment services and a MiCA authorization for crypto-asset services — represents a template for how crypto exchanges are navigating the post-MiCA regulatory landscape. The separation of payment and crypto operations under distinct regulatory permissions allows Bybit to offer a unified interface while keeping each subsidiary within its approved regulatory scope. The timing is critical: MiCA's transitional period ends July 1, 2026, after which any CASP without authorization must cease EU operations. Bybit's Austrian EMI license gives it a regulated foundation for expanding financial services across Europe, including potential payment cards, open banking tools, and merchant services — offerings that go well beyond traditional crypto exchange functionality.