TLDR
- Bybit holds a MiCA license in Austria giving it EU-wide access, and has applied for a MiFID II license to offer derivatives and regulated stocks
- CEO Ben Zhou says the platform will function like a banking app, with IBANs, salary payments, and local transfers
- Bybit is pursuing an electronic money institution license alongside MiCA and MiFID II to complete its European product stack
- Users could hold Apple and Tesla stocks alongside crypto in the same account once MiFID II is approved
- Bybit remains the largest partner of Kraken’s xStocks tokenized equities product
Bybit, one of the world’s largest crypto exchanges by trading volume, is building a single European platform where users can trade crypto, hold stocks, and access derivatives without switching apps.
🔴 Bybit adds EMI and MiFID licenses to launch EU 'super app' with stocks, derivatives
Bybit, serving 80 million users, has secured an electronic money institution license from Austria's FMA and will obtain a MiFID license within two months, CEO Ben Zhou said. The move allows… pic.twitter.com/ONOLQxX1hQ
— NewsTongue (@NewsTongueX) September 10, 2026
The Dubai-based exchange, founded in 2018, serves over 80 million users globally. It already holds a MiCA license from Austria’s Financial Market Authority, which gives it access to all EU member states.
Now Bybit is adding to that. The company has applied for a MiFID II license through its entity Bybit X GmbH. If granted, this would allow the exchange to offer regulated futures, options, and access to real stocks like U.S. equities.
CEO Ben Zhou told CoinDesk the goal is a platform that looks and feels like Revolut, but with crypto built in. “With these three licenses, we will become kind of like Revolut, plus what is currently offered by Bybit,” he said.
Revolut, which holds a full banking license in the EU and UK, serves around 80 million customers and was valued at roughly $115 billion in July.
Zhou has been open about the fact that MiCA alone is not enough to run a profitable European business. Compliance costs are high and competition from full-service financial apps is stiff.
“We’ve been running the MiCA license for about a year now. It is not profitable,” Zhou said. “Unless you have all the bells and whistles, clients won’t shift just because you have something called crypto.”
Banking Features in the Pipeline
The electronic money institution license will allow Bybit to offer users personal IBANs, the ability to receive salaries, pay utility bills, and make local transfers. This is the banking layer that sits underneath the trading features.
Zhou says the MiFID license is expected within two months. Once in place, Bybit plans to connect with partners like Alpaca or Saxo Bank to offer direct stock trading.
“Clients can hold Apple and Tesla in their account, and then they can even trade contracts for difference, gold, silver, commodities, oil, all of that,” Zhou said.
Competing in a Crowded Market
Bybit is not moving into an empty space. Coinbase, Kraken, and Bitstamp have all secured or pursued European licenses under MiCA. Binance operates through various national registrations. OKX has also been expanding in Europe.
What sets Bybit apart is its combined pursuit of MiCA, MiFID II, and an EMI license. Most crypto platforms have stopped at MiCA.
The exchange also continues its partnership with Kraken’s xStocks product for tokenized equities. Zhou confirmed Bybit remains xStocks’ largest global partner.
European users currently have access to spot trading and margin trading capped at 10x leverage. The 10x cap reflects European investor protection rules, which are stricter than Bybit’s global platform.
The MiFID II application was submitted in September 2025. No approval date has been confirmed.
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