Bybit just got the regulatory keys to run payment services across Europe. Austria's financial watchdog granted its subsidiary Bybit Payments GmbH an Electronic Money Institution licence on August 4, which means the platform can now offer everything from person-to-person transfers to card products alongside crypto trading.
Here's what makes this tricky. European regulators won't let one company handle both crypto assets and traditional payments under a single licence. So Bybit split itself in two. Bybit EU GmbH, authorized under MiCAR rules since May 2025, handles all the crypto-asset stuff. Bybit Payments GmbH, now armed with the EMI licence, manages the money side. Customers see one platform. Behind the scenes, two separate legal entities do the actual work, each staying within its own regulatory sandbox.
The EMI licence opens doors to services Bybit hasn't launched yet. Person-to-person payments, open-banking features, merchant solutions, eventually even branded cards. Each one requires building infrastructure and passing compliance checks, but the licence is the permission slip to do it. Strong Customer Authentication is already required, which means two-factor verification and fraud detection built into every transaction.
Georg Harer, managing director at both entities, framed this as Europe setting the standard for how crypto and traditional finance coexist. The company sees the split not as a burden but as a foundation. By keeping crypto and payments separate at the legal level, Bybit avoids conflicts between different regulatory frameworks and gives each service room to grow without dragging the other through compliance nightmares.
The move signals how serious European regulators are about oversight. Unlike markets where crypto exchanges still operate in gray zones, Austria and the broader EU are forcing platforms to choose. You want to offer payments? Get an EMI licence and follow banking rules. You want to trade crypto? Get MiCAR authorization. You want both? Separate entities, separate books, separate accountability.
This article is informational only and should not be construed as financial or investment advice.
