Crypto Exchange Bybit To Launch European Super App

Bybit, a Dubai-based cryptocurrency exchange with over 80 million users, has announced plans to introduce a new super app in Europe. The application will provide users with both a conventional bank account and the ability to trade stocks and cryptocurrencies. Bybit has secured an electronic money institution license from European authorities, allowing them to launch the super app in the region.

Furthermore, the firm already holds a Markets in Crypto Assets (MiCA) license in Austria, enhancing their regulatory capability in the European market.

The super app aims to merge the functionalities of financial technology companies and online brokerages into a single platform. Bybit intends to offer its European users access to traditional bank accounts alongside trading services for derivatives, tokenized stocks, and digital assets like Bitcoin. In pursuit of this goal, Bybit has established a partnership with Kraken's xStocks to offer tokenized equities. No specific date has been set for the launch of the super app as of now.

It is important to note that Bybit is a private company, and its shares are not traded on a public exchange.