#Bybit #Vienna #Austria #MiCAR

Bybit Secures MiCAR License in Austria

Bybit, recognized as the second-largest cryptocurrency exchange globally by transaction volume, has reached a significant milestone by acquiring its MiCAR (Markets in Crypto-Assets Regulation) license from the Austrian Financial Market Authority. This achievement not only marks a pivotal moment for Bybit's expansion in Europe but also emphasizes its commitment to maintaining high standards of regulatory compliance in the cryptocurrency market.

With this newly acquired license, Bybit is now equipped to operate as a fully compliant crypto asset service provider, allowing the company to offer its regulated and localized cryptocurrency products and services to nearly 500 million Europeans across the 29 EEA (European Economic Area) member states through its hub based in Austria. In conjunction with this regulatory success, Bybit has also announced the establishment of its official European headquarters in Vienna, Austria.

The MiCAR license signifies Bybit's unwavering dedication to adhering to stringent regulatory standards in Europe. This includes crucial safeguards designed to enhance transparency, prevent illicit activities, and protect consumers within the European Union's digital finance ecosystem. According to Ben Zhou, co-founder and CEO of Bybit, "Acquiring the MiCAR license is a testament to our commitment to compliance at Bybit. We are actively collaborating with regulatory authorities and striving for licenses globally so that our users can access our innovative platform with the highest levels of regulatory assurance."

To support its upcoming European expansion, Bybit is making a substantial investment in Austria and plans to hire over 100 employees in Vienna. This initiative aims to provide users with more localized and regulated services. "The MiCAR license showcases our commitment to compliance and transparency, aligning with Europe's high regulatory standards," remarked Mazurka Zeng, CEO of Bybit Europe. "Vienna is now the headquarters of Bybit Europe, and we are proud to contribute to the future-focused financial environment in Austria by investing in talent and innovation."

Furthermore, Bybit is determined to foster a robust local cryptocurrency community. Through the Blockchain for Good Alliance (BGA), the platform intends to expand its resources to collaborate closely with regional universities and nurture the next generation of blockchain innovators. This collaboration will explore practical applications of technology that could have a positive impact on the real world.

Bybit has already amassed over 70 million users worldwide, providing access to its innovative cryptocurrency investment products and services. The new EU headquarters, Bybit EU, is set to cater to EEA customers via a dedicated platform, enhancing accessibility and compliance. Bybit continues to establish itself as a leading player in the cryptocurrency space, emphasizing the importance of regulatory compliance and the development of a trustworthy financial ecosystem.

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