Bybit’s European payments subsidiary, Bybit Payments GmbH, has obtained an electronic money institution license from Austria’s Financial Market Authority, the crypto exchange confirmed on Tuesday. The authorization gives Bybit a regulatory foundation to develop payment services that may eventually include person-to-person transfers, merchant payment solutions, open banking capabilities, and card products. The services will be offered through Bybit.eu alongside those provided by Bybit EU GmbH, a separate Austrian entity licensed under the European Union’s Markets in Crypto-Assets Regulation (MiCA) since May 2025. Bybit.eu serves users across the European Economic Area, though Malta is excluded. The exchange has not detailed the reason for Malta’s omission but stated on its website that services are only available where applicable MiCA passporting requirements have been met. The two Austrian entities will hold distinct regulatory permissions and responsibilities. Bybit EU GmbH is authorized to provide crypto custody, exchange, placement, and transfer services, while Bybit Payments GmbH will handle electronic money and payment products as they are introduced. Bybit said this regulatory milestone could strengthen its relationships with banks, payment providers, and enterprises, while reducing its reliance on third-party payment infrastructure. Somali communities across Europe, many of whom actively use cryptocurrency platforms, stand to gain access to regulated payment tools from a major exchange once these services launch — potentially simplifying how they manage digital and traditional money within the European financial system. Details on exact products and rollout dates have not yet been provided.