Bybit Splits Crypto and Payments Into Two Austrian Entities. Bybit.eu Will Run Both Under One Login

Bybit Payments GmbH has obtained an electronic money institution (EMI) licence in Austria, giving Bybit a second regulated entity in the EU alongside its MiCA-authorised crypto business. The two companies will keep separate capital and client-safeguarding obligations, but customers will access both through a single Bybit.eu account.

Bybit EU GmbH has held Markets in Crypto-Assets Regulation (MiCA) authorisation since May 2025, covering crypto custody, exchange and client transfers. The new EMI licence covers e-money and payment services under a different EU regime. EMI status under PSD2 brings separate requirements for capital, risk management and safeguarding of client funds. Bybit said it cannot fold payment services into its crypto entity without meeting both sets of requirements, which is why the business is split at the legal-entity level rather than combined under one licence.

Other Exchanges Use the Same Structure

The split is not unique to Bybit. Kraken has held an EMI authorisation for its Irish entity since 2023 and added a MiCA licence from the same regulator a year later. Its EMI licence covers 27 EU states, while its MiCA licence passports across the 30-country EEA. Crypto.com took a similar but reversed path: it has held an EMI licence in Malta since 2021, added MiCA authorisation in January 2025, and in February 2026 returned to the Malta Financial Services Authority for a separate Limited Financial Institutions licence covering stablecoin services that fall under both MiCA and PSD2. No single EU licence currently covers crypto custody and payment services together, so platforms are assembling the two functions from separate approvals.

Bybit has not yet launched any of the products the EMI licence enables. The company lists person-to-person payments, Strong Customer Authentication, open-banking functionality, merchant payment tools and card products as candidates for future rollout.

"Maintaining a clear distinction between the two regulated entities is fundamental," said Bernhard Krick, managing director at Bybit Payments GmbH. "Each entity will provide services within its own permissions, while customers will be able to access those services through the Bybit.eu platform."

Georg Harer, who holds the managing director role at both entities, said the EMI licence should help Bybit reduce its reliance on third-party payment providers and build direct relationships with banks and payment institutions over time. Bybit has not set a date for when the payment features will go live, saying further details on product launches and the wider European rollout will follow.