Cryptocurrency exchange Bybit is taking steps to expand its presence in Europe by applying for a MiFID II license in Austria.
Bybit's European Expansion
Bybit, the second-largest cryptocurrency exchange in the world, has submitted a license application for its European group. This application was made through the Austrian entity Bybit X GmbH.
MiFID II License and New Opportunities
By obtaining an investment firm license, Bybit X will be able to offer regulated derivatives products like futures and options to clients across the European Economic Area, thus expanding the current offering of the bybit.eu platform.
Bybit Management Statement on Regulatory Clarity
Mazurka Zheng, Managing Director and CEO of Bybit EU, stated, “Regulatory clarity is key to establishing Europe as one of the most forward-thinking regions globally when it comes to crypto-assets.” He emphasized that the license would significantly enhance the company’s services in the EU.
Bybit's application for a MiFID II license reflects the company's commitment to regulatory compliance and its ambition to expand in the European derivatives market.
