#Bybit #Vienna #Austria #MiCAR

Bybit Expands Operations in Europe with MiCAR License

Bybit, a leading name in the cryptocurrency exchange landscape, has reached an important milestone by obtaining the Markets in Crypto-Assets Regulation (MiCAR) license from the Austrian Financial Market Authority (FMA). As the world’s second-largest cryptocurrency exchange by trading volume, this new regulatory approval allows Bybit to provide fully compliant cryptocurrency services to nearly 500 million individuals across 29 countries in the European Economic Area (EEA) through its newly established hub in Austria.

This licensing marks a significant advancement for Bybit as it adheres to extensive European regulatory standards, incorporating vital measures geared towards enhancing transparency, preventing illicit activities, and protecting users within the Union’s digital finance ecosystem. Company co-founder and CEO, Ben Zhou, expressed pride in this development, highlighting it as a testament to Bybit's compliance-focused approach. Zhou stated, "The acquisition of the MiCAR license in Austria shows our commitment to compliance. We are actively collaborating with regulatory bodies and securing licenses globally to enable our users to access our innovative platform with the utmost regulatory assurance."

With the official designation of Vienna as its European headquarters, Bybit plans substantial investments in Austria, targeting to hire over 100 professionals to enhance localized and regulated user services. Mazurka Zeng, CEO of Bybit Europe, reiterated that obtaining the MiCAR license exemplifies Bybit’s dedication to compliance and transparency in line with European standards. "Vienna is now the base for Bybit Europe, and we are enthusiastic about contributing to Austria's forward-thinking financial environment by investing in talent and innovation," Zeng added.

The firm is also keen on fostering a robust local cryptocurrency community. They aim to expand their resources and influence through the Blockchain for Good Alliance (BGA), which involves close cooperation with regional universities to cultivate the next generation of blockchain innovators and explore impactful applications of the technology. This strategic move indicates Bybit's commitment not only to business growth but also to societal progress in the digital finance sector.

Bybit serves over 70 million users globally, offering cutting-edge cryptocurrency investment products and services. The establishment of Bybit EU will further solidify its reach and responsiveness to local clients within the EEA through specialized services designed for compliance and user protection. As the landscape of digital finance evolves, Bybit's latest endeavors are set to bolster its position as a pioneer in the compliant cryptocurrency space, ensuring that users benefit from a secure and innovative trading experience.

For more updates about Bybit's developments or for media inquiries, feel free to check Bybit’s official channels on social media or their press room.

Stay tuned for exciting initiatives and contributions Bybit will make towards building a more transparent and user-friendly financial future in Europe.