Crypto exchange Bybit has secured approval to operate across the European Economic Area (EEA) after receiving a Markets in Crypto-Assets Regulation (MiCA) license from Austria’s Financial Market Authority (FMA). The regulatory greenlight allows Bybit to act as a fully licensed crypto asset service provider (CASP) across all 29 EEA member states under a single, harmonized framework.
Coinciding with the license acquisition, Bybit announced the launch of its new European headquarters in Vienna, Austria—signaling a major milestone in its strategic expansion. The move positions the exchange to serve nearly 450 million residents under the EU’s unified crypto regulations, aimed at enhancing oversight, protecting consumers, and curbing financial misconduct.
Bybit CEO Ben Zhou emphasized the company’s regulatory-first stance in the announcement:
“Securing the MiCAR license in Austria is a testament to our compliance-first approach at Bybit. We are actively collaborating with regulators and pursuing licenses globally to ensure our users can access our innovative platform with the highest levels of regulatory and compliance assurance.”
MiCA, set to take effect across the EU in early 2025, is widely seen as a watershed moment for digital asset regulation—standardizing licensing, custody, and stablecoin issuance requirements across the bloc. Bybit’s Vienna hub makes it one of the earliest major exchanges to lock in a compliant operating structure ahead of enforcement.
Bybit to Hire 100+ in Vienna as EU Strategy Gains Momentum
As part of its regional expansion, Bybit will hire over 100 new staff members at its Vienna headquarters to support operations aligned with European regulatory standards.
Mazurka Zeng, CEO of Bybit Europe, confirmed that the Austrian capital will serve as the company’s primary base on the continent:
“Vienna is now the home of Bybit Europe. We’re proud to contribute to Austria’s forward-looking financial environment by investing in talent and innovation.”
Beyond hiring, Bybit also plans to build academic partnerships throughout Europe via its Blockchain for Good Alliance (BGA) program—an initiative aimed at promoting blockchain education, research, and adoption in collaboration with universities and institutions.
The expansion reflects a broader industry trend: as MiCA enforcement approaches, global exchanges are racing to establish EU-regulated entities to maintain and expand their service offerings across member states.
Bybit Recovers from $1.5B Hack, Rises to Global No. 2
The Vienna launch and MiCA licensing mark a turnaround moment for Bybit, which earlier this year suffered a massive $1.5 billion security breach—one of the largest in crypto history.
Despite the incident, Bybit has climbed to the No. 2 spot among global crypto exchanges by trading volume, according to CoinMarketCap. Originally founded in 2018, the company moved its global headquarters from Singapore to Dubai in 2022 as part of a broader pivot toward regulatory engagement and global expansion.
German authorities have since recovered €34 million (~$38 million) in assets linked to the February hack, tracing the funds to a laundering scheme involving a crypto platform known as eXch.
Bybit’s recent regulatory wins—including the MiCA license—represent an attempt to move past the scandal and position itself as a mature, compliance-driven player in the global digital asset ecosystem. The firm’s dual focus on governance and growth may prove critical in restoring user confidence and winning back institutional trust.
Quick Facts
- Bybit received a MiCA license from Austria’s FMA, allowing it to operate as a CASP across the EEA.
- The exchange has launched its EU headquarters in Vienna, Austria.
- Over 100 new hires are planned as part of Bybit’s European expansion.
- The move follows a $1.5B crypto breach in February 2025; authorities have recovered $38M to date.
- Bybit is now the world’s second-largest exchange by trading volume, according to CoinMarketCap.
- MiCA regulations will take effect in early 2025, standardizing crypto oversight across the EU.
