Bybit’s EU payments arm secures Austrian e-money license
Bybit’s Austrian payments subsidiary gained regulatory approval to develop card, merchant, open-banking and person-to-person payment services.
Bybit, the notable cryptocurrency exchange, has obtained regulatory approval for its Austrian subsidiary to provide various payment services. The European payments arm, Bybit Payments GmbH, has received an electronic money institution license from Austria's Financial Market Authority. This license enables Bybit to introduce card, merchant, open-banking, and person-to-person payment services on its regional platform, Bybit.eu.
The two entities, Bybit.eu and Bybit EU GmbH, will operate under separate regulatory permissions. Bybit EU GmbH is already authorized to offer crypto custody, exchange, placement, and transfer services within the European Union, while Bybit Payments GmbH will manage regulated electronic money and payment products as they are developed.
Bybit aims to enhance its partnerships with banks, payment providers, and enterprises while reducing its dependence on external payment infrastructure.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
