Austria's Financial Market Authority granted Bybit Payments an electronic money institution license on August 4. The Austrian regulator's approval opens the door for expanded payment features on Bybit's European platform.
The EMI license separates Bybit's payment operations from its crypto trading services. Bybit Payments GmbH will handle fiat transfers and e-money services, while Bybit EU manages digital assets under MiCAR approval secured in May 2025. This dual structure keeps regulators happy across Europe's fragmented financial landscape.
The company plans to roll out five or more features powered by this license. Peer-to-peer transfers top the list, followed by open banking integrations and card services. None of these went live yet, but they're now technically permissible under Austrian oversight.
Bybit joins a crowded field of platforms chasing European legitimacy. More than 170 entities registered as crypto-asset service providers under MiCA rules, but most lack the additional payment infrastructure licenses that Bybit just grabbed. The gap between basic crypto authorization and full payment rails remains steep.
Georg Harer, managing director at both Bybit subsidiaries, called the approval "an important milestone" in the company's European expansion. Europe continues setting regulatory precedent by requiring platforms to compartmentalize crypto and traditional finance operations.
This article is informational only and should not be construed as financial advice or investment guidance.
