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Bybit has received its Markets in Crypto-Assets Regulation licence from the Austrian Financial Market Authority, marking a pivotal moment in the cryptocurrency exchange's European expansion.
The world's second-largest cryptocurrency exchange by trading volume can now operate as a fully compliant crypto-asset services provider and passport its regulated products and services to nearly 500 million Europeans across 29 European Economic Area member states through its Austria-based EEA hub.
Alongside the regulatory milestone, Bybit has established its official European headquarters in Vienna. The MiCAR licence enables the company to meet Europe's regulatory standards, including safeguards designed to enhance transparency, prevent illicit activities, and protect consumers within the European Union's digital finance ecosystem.
"Securing the MiCAR license in Austria is a testament to our compliance-first approach at Bybit," said Ben Zhou, co-founder and CEO of Bybit. "We are actively collaborating with regulators and pursuing licenses globally to ensure our users can access our innovative platform with the highest levels of regulatory and compliance assurance."
To support its European expansion, Bybit is making a substantial investment in Austria, with plans to hire over 100 professionals in Vienna as it provides more localised and regulated services to users.
"Obtaining the MiCAR license demonstrates our commitment to compliance and transparency, in line with Europe's high regulatory standards," said Mazurka Zeng, Chief Executive Officer of Bybit Europe. "Vienna is now the home of Bybit Europe, and we're proud to contribute to Austria's forward-looking financial environment by investing in talent and innovation. Beyond this, we are dedicated to fostering a strong local crypto community and, through the Blockchain for Good Alliance (BGA), we will extend our resources to work closely with universities across the region, cultivating the next generation of blockchain innovators and exploring impactful real-world applications of the technology."
Bybit provides over 70 million users globally with access to its crypto investment products and services. Bybit EU is the newly established EU headquarters and will serve EEA clients on the dedicated Bybit EU platform.
