Bybit Gains MiCA License to Expand Across Europe, Sets Up EU HQ in Vienna
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Bybit, one of the world’s largest crypto exchanges, has received a major regulatory license from Austria’s Financial Market Authority (FMA) under the Markets in Crypto-Assets Regulation (MiCA). However, this approval allows Bybit EU, listed under registration number 636180i, to operate legally as a crypto asset service provider (CASP) across all 29 European Economic Area (EEA) countries.
To this end, as part of this expansion, Bybit has opened its European headquarters in Vienna, Austria, and plans to hire more than 100 employees to support its local services.
MiCA License Opens the Door to the EU Crypto Market
The MiCA license is a big step for Bybit’s European growth. With this license, the exchange can now serve nearly 500 million people across Europe under one set of clear and consistent rules.
As it stands, the regulatory body is the European Union’s new crypto law aimed at fighting illegal activity, protecting users, and creating a fair market. By acquiring this license, Bybit proves the company meets these strict standards.
CEO Ben Zhou said this shows Bybit’s strong focus on rules and safety. He also shared that the company is working with regulators in other regions to gain more licenses. Bybit’s goal is to offer users a safe and trusted platform, no matter where they are. The approval also follows a growing trend of crypto companies choosing Europe because of its transparent legal system for digital assets.
Vienna Chosen as EU Base as Bybit Plans Local Investments
Along with the license, Bybit has made Vienna its official European home. This includes setting up offices, hiring local staff, and offering services tailored to EU crypto laws. Mazurka Zeng, CEO of Bybit Europe, said they chose Austria because of its positive environment for financial innovation and tech growth.
However, to support blockchain education, Bybit will also work with universities through its Blockchain for Good Alliance (BGA). To this end, the company hopes to boost awareness and skills in blockchain across the region.
Despite expansion into the EU being difficult due to the $1.5 billion February major security breach, authorities later recovered €34 million from a related laundering platform in Germany. Even with this, Bybit still ranks as the second-largest crypto exchange by volume, according to CoinMarketCap.
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