Bybit splits itself in two for regulators, then asks them to hold its e-money too

Bybit Payments GmbH, an Austrian subsidiary of crypto exchange Bybit, has secured an Electronic Money Institution license from Austria's Financial Market Authority, giving the company a regulated basis to roll out electronic money and payment services across Europe through Bybit.eu. The exchange announced the approval on Tuesday, describing it as a separate regulatory track from its crypto-asset operations.

Crypto-related services will continue to be handled by a distinct Austrian entity, Bybit EU GmbH, which has been authorized under the European Union's Markets in Crypto-Assets (MiCA) framework since May 2025. Bybit said the two entities will remain legally separate while operating through the same Bybit.eu platform, which serves users across the European Economic Area with Malta excluded. Bybit has not specified why Malta was excluded, but stated on its website that services are available only in jurisdictions where applicable MiCA passporting requirements have been met.

Under the new license, Bybit Payments GmbH can lay the groundwork for a range of payment products, potentially including person-to-person payments, merchant payment solutions, open banking features and card products. Bybit EU GmbH, meanwhile, is authorized to provide crypto custody, exchange, placement and transfer services. The exchange said the new regulatory milestone could help strengthen its relationship with banks, payment providers and enterprises while reducing its reliance on third-party payment infrastructure.

Georg Harer, Managing Director at Bybit EU GmbH and Bybit Payments GmbH, said, "Europe is setting the global benchmark for how digital assets and financial services can evolve together, and we are committed to building compliant, long-term infrastructure that meets that standard." The announcement comes after Bybit launched in Indonesia through its acquisition of NOBI, expanding the exchange's regulated footprint beyond Europe.