**Bybit Secures Austrian EMI License, Operating Dual-Entity Structure Under Single Platform**
Bybit has obtained an electronic money institution license in Austria through newly formed Bybit Payments GmbH, operating alongside its existing MiCA-authorized crypto entity Bybit EU GmbH established in May 2025. The dual-entity structure stems from regulatory requirements rather than business strategy, as no single EU license currently covers both crypto custody and payment services. Each entity maintains separate capital and safeguarding obligations under different frameworks—MiCA for crypto operations and PSD2 for payments—while customers access both through unified Bybit.eu credentials.
The split mirrors strategies by Kraken and Crypto.com, which similarly maintain separate EMI and MiCA licenses across EU jurisdictions. Bybit has not yet launched services enabled by the EMI license, including peer-to-peer payments, open banking integration, merchant tools, and card products. Managing director Bernhard Krick emphasized maintaining clear regulatory boundaries between entities while delivering seamless customer experience.
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FXnCO Insight
** EU-regulated crypto platforms require dual licensing infrastructure, signaling regulatory complexity that may delay payment feature rollouts and increase compliance costs industry-wide.
Source: Finance Magnates