Bybit conquers Europe: License and headquarters in Vienna for crypto revolution!

Bybit conquers Europe: License and headquarters in Vienna for crypto revolution!

Chinese crypto exchange Bybit has made significant progress in its European expansion. How PR Newswire reports, Bybit received the license from the Austrian Financial Market Authority (FMA), which gives it the opportunity to operate in accordance with the EU Regulation on Markets in Crypto Assets (MiCAR). This approval allows Bybit to operate as a fully regulated crypto services provider in Europe, representing a significant step towards transparency and consumer protection.

With the newly acquired MiCAR license, Bybit will be able to offer its products and services to almost 500 million Europeans in 29 European Economic Area (EEA) member states via an EEA hub in Austria. Bybit CEO and owner Ben Zhou commented on the move, emphasizing the company's commitment to regulatory standards in Europe. The license also comes with stricter rules for crypto providers, which significantly increases protection for investors crown.

European headquarters in Vienna

Another milestone for Bybit is the official opening of the European headquarters in Vienna. The company plans to hire over 100 professionals to provide a localized and regulated service. Through this measure, Bybit not only wants to meet the growing demands of the European market, but also promote the development of a strong local crypto community. Cooperation projects with universities in the region are also being considered to support the establishment of know-how.

Bybit already has a wide customer base in the unregulated European market and the introduction of the MiCAR license could increase competition for other platforms such as Bitpanda. The company is currently the second largest crypto asset exchange in the world with over 70 million users and aims to further expand its market shares in Europe.