Bybit secures Austrian e-money license for EU payments

Crypto exchange Bybit secured an electronic money license from Austria’s Financial Market Authority for its subsidiary, Bybit Payments GmbH. The license provides a legal basis to offer payment services, including P2P, merchant solutions, and card products, across the European Economic Area, excluding Malta. This new entity complements Bybit's existing MiCA-regulated crypto arm, Bybit EU GmbH, and aims to reduce reliance on third-party payment infrastructure.

Austrian e-money license

• ▪Bybit's Austrian subsidiary, Bybit Payments GmbH, has received an electronic money institution license from Austria’s Financial Market Authority
• ▪The license is intended to reduce Bybit's reliance on third-party payment infrastructure
• ▪The new license could help strengthen Bybit's relationship with banks, payment providers, and enterprises

Payment services scope

• ▪The license allows Bybit to develop services including person-to-person payments, merchant solutions, open banking, and card products
• ▪The authorization provides a legal basis for Bybit to add future payment and e-money services to its regional platform

Dual regulatory structure

• ▪Bybit Payments GmbH will handle regulated electronic money and payment products as they are introduced
• ▪Bybit EU GmbH has been authorized under the EU’s Markets in Crypto-Assets (MiCA) Regulation since May 2025
• ▪Bybit EU GmbH is authorized to provide crypto custody, exchange, placement, and transfer services
• ▪Bybit operates two distinct Austrian entities: Bybit Payments GmbH for e-money and Bybit EU GmbH for crypto services

EEA market coverage

• ▪Bybit's website states services are available only in jurisdictions where MiCA passporting requirements have been met
• ▪Bybit has not publicly specified the reason for excluding Malta from its services
• ▪The new payment services will be offered via Bybit.eu to users in the European Economic Area (EEA), excluding Malta