Bybit Gets MiCA License and Opens EU HQ in Vienna
Bybit, founded in 2018 and now headquartered in Dubai, has achieved a major regulatory milestone by obtaining a Markets in Crypto-Assets Regulation (MiCA) license from Austria’s Financial Market Authority (FMA). This approval allows Bybit EU (commercial number 636180i) to operate as a regulated Crypto Asset Service Provider (CASP) and passport its services across the 29 member states of the European Economic Area (EEA).
MiCA Approval and Regulatory Passporting
The MiCA framework became enforceable on January 1, 2025, introducing a harmonized rulebook for crypto-asset issuers, service providers and custodians. Under MiCA, CASPs must meet stringent requirements in the following areas:
- Initial Capital: A minimum of €125,000 to cover operational risks.
- Governance: Independent audit committees, risk management policies and segregation of duties.
- Custody & Safekeeping: Proof of segregation between client and company assets, regular reconciliation and cold storage mandates.
- Transparency: Detailed white-paper disclosures, regular financial reporting and consumer risk warnings.
- Anti-Money Laundering: Alignment with the 6th Anti-Money Laundering Directive (AMLD6) and the EU’s digital identity framework.
Article 66 of MiCA grants a European passport, enabling Bybit EU to offer spot trading, derivatives, staking and custody services seamlessly across the bloc without additional local licensing hurdles.
Operational Expansion in Vienna
On May 29, 2025, Bybit formally opened its European headquarters in Vienna, Austria. The office will initially hire over 100 professionals spanning compliance, risk management, blockchain engineering and customer support. Bybit Europe CEO Mazurka Zeng commented:
“Vienna is now the home of Bybit Europe. We’re proud to contribute to Austria’s forward-looking financial environment by investing in talent and innovation.”
The Vienna hub will deploy localized interfaces in 23 EU languages and integrate with regional payment rails via SEPA and SWIFT.
Technical Compliance and Risk Management
MiCA mandates robust IT and cybersecurity standards. Bybit’s technical architecture has been audited against ISO 27001 and the European Banking Authority’s ICT and security risk guidelines (EBA/GL/2021/02). Key components include:
- Infrastructure Resilience: Multi-region failover clusters, DDoS protection via Tier-1 scrubbing centers and hardware security modules (HSMs) for private key encryption.
- Operational Controls: Automated reconciliation engines, real-time transaction monitoring and incident response playbooks aligned to the NIS2 directive.
- Third-Party Oversight: Vendor risk assessments, SOC 2 Type II attestations for critical suppliers and on-site audits of cloud service providers.
Impact on the EU Crypto Market
Bybit’s entrance under MiCA increases competition with other major exchanges like Coinbase, Kraken and Bitstamp, which are vying for market share in Europe’s €1 trillion crypto economy. Analysts at EuroFinance Research estimate Bybit’s regional volume could exceed $25 billion per month by year-end, driven by its advanced matching engine capable of 1.5 million orders per second.
Future Outlook and Challenges
Looking ahead, Bybit must adapt to forthcoming EU initiatives such as the Digital Operational Resilience Act (DORA) and potential updates to AMLD6. Additionally, the European Central Bank’s progress on a digital euro could reshape stablecoin demand, requiring agile product development and regulatory engagement.
Expert Opinion
Dr. Maria Schmidt, a blockchain regulatory specialist at Vienna University of Economics and Business, noted:
“Bybit’s compliance investments set a new bar for CASPs. The next test will be stress-testing under DORA and integrating cross-border digital identity solutions.”
Bybit’s Blockchain for Good Alliance
Under its Blockchain for Good Alliance, Bybit will partner with European universities and research centers, funding grants for decentralized finance (DeFi) applications in sustainable energy, supply-chain transparency and digital identity.