Bybit's Austrian EMI license lets it offer regulated payment services across the EEA, complementing its MiCAR crypto authorization and enabling direct bank partnerships.
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Bybit Payments GmbH, the Austrian subsidiary of the crypto exchange, received an electronic money institution license from Austria's Financial Market Authority. The license allows the unit to offer regulated payment services across the European Economic Area through the Bybit.eu platform.
The EMI license adds a second regulatory pillar to Bybit's European operations. Bybit EU GmbH already holds authorization under the Markets in Crypto-Assets Regulation, which it secured in May 2025. That entity handles crypto-asset services. Bybit Payments GmbH will focus on fiat and e-money services. Georg Harer serves as managing director of both units.
With the EMI license, Bybit can form direct partnerships with European banks and payment processors, reducing its reliance on third-party providers for moving fiat currency, the company said. Bybit plans to develop payment products including card programs and open-banking tools. Merchant solutions and strong customer authentication features are also in the pipeline, according to the company.
Harer called the EMI license "a vital milestone for Bybit's long-term plans in Europe." No timeline was given for the launch of the new payment features.
The dual-entity structure aligns with European regulatory requirements that separate crypto-asset services from traditional payment services. Operating both under one entity would complicate compliance, Bybit noted.
More than 170 entities have registered under MiCAR across the EU. Few hold both comprehensive trading platform permissions and an electronic money authorization simultaneously. Bybit's setup places it in a small group of operators with such coverage.
Austria's FMA processes EMI applications under a structured framework, and an Austrian license carries passporting rights across the EEA. Bybit can operate in all 30-plus member states without separate national approvals.
Bybit secured its MiCAR authorization in May 2025, ahead of many competitors still working through regulatory backlogs. The combination of both licenses gives the exchange a regulatory edge in Europe, the company said.
The FMA granted the license to Bybit Payments GmbH. Bybit has not announced when the planned payment services will go live.
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