Bybit, the second largest exchange of encryption in the world, with the volume of transactions, announced that it has received its purchases on the Austrian financial market (FMA), indicating a central moment in its European expansion. With this new license, bybit can now function as a fully compatible provider of encryption services and passport of regulated and local products and encryption products in about 500 million Europeans in 29 EEA Member States (European Economic Area) via EAE HUB, which is based in Austria.
Along with this regulatory landmark, Singapore, based in Bybit, has also established its official European headquarters in Vienna, Austria.
The company said its new Micar license underlined bybit’s steadfast commitment to fulfill the highest regulatory standards in Europe, including critical guarantees designed to enhance transparency, prevent illegal activities and protect consumers in the European Ecosystem.
“Ensuring the Micar license in Austria is proof of our first approach to Bybit,” said Ben Zhou, a co -founder and CEO of Bybit. “We are actively working with regulators and pursue licenses worldwide to ensure that our users can access our innovative platform with the highest levels of regulatory and compliance safeguards.”
To support its upcoming European expansion, Bybit has said it is making a significant investment in Austria, with plans to hire more than 100 Vienna professionals, as it provides more identified and adjustable services to users.
“The acquisition of Micar License demonstrates our commitment to compliance and transparency, according to Europe’s high regulatory standards,” said Mazurka Zeng, CEO of BYBIT Europe.
“Vienna is now the home of Bybit Europe and we are proud to contribute to the Austrian economic environment, investing in talent and innovation. Technology,” Mazurka said.