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Bybit Funds GmbH has been granted an digital cash establishment licence in Austria, giving Bybit a second regulated entity alongside its MiCA-authorised crypto enterprise.
The 2 corporations will maintain separate capital and safeguarding obligations whereas clients entry each by a single Bybit.eu account.
Regulation, Not Branding, Drives the Break up
Bybit EU GmbH has held MiCA authorisation since Could 2025, overlaying crypto custody, trade, and consumer transfers. Bybit Funds GmbH now holds the EMI licence, overlaying e-money and fee providers.
The 2 licences sit beneath completely different EU regimes. MiCA units guidelines for crypto-asset custody and buying and selling. EMI standing brings separate necessities round capital, threat administration, and client-fund safeguarding beneath PSD2.
Bybit can’t fold funds into its crypto entity with out assembly each units of necessities twice over, which is why the enterprise is break up on the legal-entity stage fairly than merged into one licence.
Different Exchanges Break up Licences the Similar Means
Bybit will not be alone in maintaining crypto and funds beneath separate licences.
Kraken has held an EMI authorisation for its Irish entity since 2023. It added a MiCA licence from the identical regulator a 12 months later. The EMI licence covers 27 EU states; the MiCA licence passports throughout the 30-country EEA.
Crypto.com took the alternative route. The trade has held an EMI licence in Malta since 2021. It added MiCA authorisation in January 2025.
In February 2026, it returned to the MFSA for a separate Restricted Monetary Establishments licence, overlaying stablecoin providers that fell beneath each MiCA and PSD2 without delay.
The sample throughout all three exchanges factors to the identical constraint. No single EU licence but covers crypto custody and fee providers collectively. Platforms are assembling the 2 features from separate approvals as every product line requires it.
The EMI Licence Covers Providers That Are Not Stay But
Bybit has not launched any of the merchandise the EMI licence allows. The corporate lists person-to-person funds, Robust Buyer Authentication, open-banking performance, service provider fee instruments, and card merchandise as candidates for future rollout.
“Sustaining a transparent distinction between the 2 regulated entities is key,” mentioned Bernhard Krick, managing director at Bybit Funds GmbH.
“Every entity will present providers inside its personal permissions, whereas clients will be capable of entry these providers by the Bybit.eu platform.”
Georg Harer, who holds the managing director position at each entities, framed the EMI licence as a technique to cut back Bybit’s reliance on third-party fee suppliers and construct direct relationships with banks and fee establishments over time.
Bybit has not set a date for when the fee options will go reside. The corporate says additional particulars on product launches and the broader European rollout will observe.
Bybit Funds GmbH has been granted an digital cash establishment licence in Austria, giving Bybit a second regulated entity alongside its MiCA-authorised crypto enterprise.
The 2 corporations will maintain separate capital and safeguarding obligations whereas clients entry each by a single Bybit.eu account.
Regulation, Not Branding, Drives the Break up
Bybit EU GmbH has held MiCA authorisation since Could 2025, overlaying crypto custody, trade, and consumer transfers. Bybit Funds GmbH now holds the EMI licence, overlaying e-money and fee providers.
The 2 licences sit beneath completely different EU regimes. MiCA units guidelines for crypto-asset custody and buying and selling. EMI standing brings separate necessities round capital, threat administration, and client-fund safeguarding beneath PSD2.
Bybit can’t fold funds into its crypto entity with out assembly each units of necessities twice over, which is why the enterprise is break up on the legal-entity stage fairly than merged into one licence.
Different Exchanges Break up Licences the Similar Means
Bybit will not be alone in maintaining crypto and funds beneath separate licences.
Kraken has held an EMI authorisation for its Irish entity since 2023. It added a MiCA licence from the identical regulator a 12 months later. The EMI licence covers 27 EU states; the MiCA licence passports throughout the 30-country EEA.
Crypto.com took the alternative route. The trade has held an EMI licence in Malta since 2021. It added MiCA authorisation in January 2025.
In February 2026, it returned to the MFSA for a separate Restricted Monetary Establishments licence, overlaying stablecoin providers that fell beneath each MiCA and PSD2 without delay.
The sample throughout all three exchanges factors to the identical constraint. No single EU licence but covers crypto custody and fee providers collectively. Platforms are assembling the 2 features from separate approvals as every product line requires it.
The EMI Licence Covers Providers That Are Not Stay But
Bybit has not launched any of the merchandise the EMI licence allows. The corporate lists person-to-person funds, Robust Buyer Authentication, open-banking performance, service provider fee instruments, and card merchandise as candidates for future rollout.
“Sustaining a transparent distinction between the 2 regulated entities is key,” mentioned Bernhard Krick, managing director at Bybit Funds GmbH.
“Every entity will present providers inside its personal permissions, whereas clients will be capable of entry these providers by the Bybit.eu platform.”
Georg Harer, who holds the managing director position at each entities, framed the EMI licence as a technique to cut back Bybit’s reliance on third-party fee suppliers and construct direct relationships with banks and fee establishments over time.
Bybit has not set a date for when the fee options will go reside. The corporate says additional particulars on product launches and the broader European rollout will observe.
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Frequently Asked Questions
What licences does Bybit hold in Austria?
Bybit Funds GmbH holds an electronic money institution (EMI) licence, while Bybit EU GmbH has a MiCA authorisation. These two licences allow Bybit to operate as a regulated entity in Austria, covering different aspects of crypto and payment services.
How can clients access Bybit's services?
Clients can access both crypto and payment services through a single Bybit.eu account. Despite being separate legal entities, Bybit Funds GmbH and Bybit EU GmbH allow for a unified user experience on the platform.
What services are covered under Bybit's EMI licence?
The EMI licence allows Bybit to offer various services, including person-to-person funds, Strong Customer Authentication, open-banking functionality, merchant payment tools, and card products. However, these services have not yet been launched.
Why did Bybit split its crypto and payment services?
The split was driven by regulatory requirements rather than branding. Bybit must meet separate capital and safeguarding obligations for each entity, as the MiCA and EMI licences fall under different EU regulatory frameworks.
Are other exchanges following a similar licensing strategy as Bybit?
Yes, other exchanges like Kraken and Crypto.com have also separated their crypto and payment services under different licences. This trend reflects the regulatory landscape where no single EU licence currently covers both crypto custody and payment services.
