Cryptocurrency exchange Bybit has secured a MiCAR license from the Austrian Financial Market Authority, helping it expand its presence across the EU region. The new license allows Bybit to operate as a fully compliant crypto-asset services provider in the region. It can now provide regulated crypto products and services to close to 500 million Europeans in 29 European Economic Area member states. The company has opened its European headquarters in Vienna.
“Securing the MiCAR license in Austria is a testament to our compliance-first approach at Bybit,” said Bybit CEO and co-founder Ben Zhou. “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.”
Bybit will be making a sizeable investment in Austria. The company plans to hire over 100 professionals in Vienna as its offerings become more localized and regulated.
“Obtaining the MiCAR license demonstrates our commitment to compliance and transparency, in line with Europe’s high regulatory standards,” said CEO of Bybit Europe, Mazurka Zeng.
“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,”
