TLDR
- Bybit EU Group has applied for an investment firm license in Austria to expand its services across Europe.
- If approved, Bybit X GmbH will offer regulated derivatives products such as futures and options in the European Economic Area.
- The application aligns with Bybit’s goal to enhance its presence in Europe and offer a broader range of crypto-focused services.
- Bybit’s crypto payment card allows users to spend digital assets like Bitcoin and USDC through Apple Pay, Google Pay, or a physical card.
- The MiFID II license application will enable Bybit to introduce more sophisticated trading products to its European clients.
Bybit EU Group, the European arm of Bybit, has applied for an investment firm license in Austria. This move aligns with the company’s efforts to expand its services across the European Economic Area (EEA). If approved, the license will enable Bybit X GmbH to offer regulated derivatives products such as futures and options.
Bybit’s Bid to Expand Derivatives Offerings in Europe
Bybit’s application for the MiFID II license is a significant step in expanding its presence in Europe. With this license, Bybit will be able to provide regulated derivatives products across the EEA. Bybit’s European clients could soon gain access to more sophisticated trading instruments such as futures and options.
Mazurka Zheng, Managing Director and CEO of Bybit EU, expressed confidence in the application’s potential. “This license will allow Bybit EU Group to expand its services in the EU through Bybit X and Bybit EU. It will make it possible to offer derivatives like futures and options on the bybit.eu platform,” Zheng stated.
The MiFID II license is essential for Bybit to offer additional products to its European customers. It represents a crucial step toward achieving Bybit’s goal of becoming a prominent player in the European market.
EU Crypto Adoption Boosted with New Card
The license application comes just after Bybit launched its crypto payment card in the EU. The card allows users to make payments using Bitcoin (BTC) and USD Coin (USDC) through Apple Pay, Google Pay, or a physical card. This launch highlights Bybit’s commitment to offering innovative services to its European customers.
The payment card launch also coincides with Bybit’s push to increase crypto adoption in Europe. In partnership with Circle, Bybit has accelerated USDC adoption across the continent. Bybit aims to provide its European users with a seamless experience in using digital assets for everyday transactions.
Bybit’s European expansion continues with its growing portfolio of services. The crypto payment card, along with its MiCAR-compliant platform, positions Bybit for success in the competitive European market.
