Bybit, one of the largest cryptocurrency exchanges in the world, has announced the launch of its new European operational unit and the platform – Bybit EU GmbH. It aims to provide users from the European Economic Area (EEA) and fully access to cryptocurrency services. This is an important step not only for the stock exchange itself, but also for the entire market in Europe. What does this mean for current and future users?
Description of the Bybit EU platform
Bybit EU GmbH is a response to the growing regulatory requirements in the European Union, and more specifically – to the micar regulations (Markets in Crypto-Assets Regulation), which introduce a new standard for the regulation of cryptocurrency market in Europe. The new platform was created to ensure transparency, security and full compliance with European law in the field of storage, exchange and transfer of cryptographic assets.
The goal of Bybit EU is to create an environment in which users can use cryptocurrency services without fear of lack of compliance with local law or insufficient investor protection. A few days ago a press conference inaugurating the official activities of Bybit EU on the Austrian and European market took place. As Ben Zhou, co -founder and CEO of Bybit, emphasized during the conference:
Six years ago, we started without a single user, having only a bold vision. Today we serve over 72 million users around the world – and our mission continues. Bybit EU is a combination of innovation and regulation – we are building a safe, user -oriented cryptocurrency ecosystem in the heart of Europe
Who is Bybit EU for?
Bybit EU currently operates fully in accordance with the Micar regulation, which makes it one of the first global cryptocurrency exchanges with a full permit to provide services in all 29 countries of the European Economic Area. The license was awarded at the beginning of this year by the Austrian FMA, considered one of the most balanced and professional regulators of the digital finance sector. Thanks to this, Bybit EU can provide cross -border services with full legal certainty and uniform approach to compliance.
Why Vienna? Mazurka Zeng, CEO and managing director Bybit EU explains this:
Vienna was consciously chosen as the headquarters of Bybit in the EU, due to the central geographical location, developed legal and financial infrastructure and access to highly qualified, multilingual staff. Austria’s pro -innovative approach to finance and the developing regulatory sandbox for digital assets make this country an ideal start platform for pan -European cryptocurrency services
The platform was created for users from all over EEA (except Malta) who are looking for:
- safe and adjustable place for cryptocurrency trading,
- storage of your assets,
- access to loyalty products in accordance with local regulations,
- Alternatives for platforms from outside the EU, which may be subject to restrictions in the future.
The Bybit EU platform offers much more than just trade. The goal is to create a real cryptocurrency ecosystem adapted to the changing needs of users in the EU. The company’s infrastructure meets the highest standards in the field of security and protection of users, including ISO/IEC 27001 certification, MPC (Multi-Parta Computation) portfolio technology and internal procedures in accordance with MICAR and the requirements of the Austrian regulator.
Functionalities available now and further perspectives
Already at the start, Bybit EU offers a wide range of services in accordance with European regulations. These are:
- Storage and administration of cryptocurrencies on behalf of clients,
- Exchange of cryptocurrencies with cash (FIAT),
- Replacement of one cryptocurrency with another,
- Offering cryptocurrencies (tokens),
- Implementation of cryptocurrency transfers on behalf of customers.
Importantly, all these services are provided as fully regulated and licensed by the relevant supervision authorities. Thanks to this, users can be sure about the compliance of surgery with regulations and the protection of their funds.
What next?
According to the development direction of the platform, in the coming months further functionality extensions are planned, such as the implementation of extended loyalty programs, integration with European payment systems, development of the offer of financial products based on cryptocurrencies (in accordance with MIFID and MICAR), as well as expanding language service and local customer support.
Users from the European Economic Area (EEA) who have used the Bybit.com platform so far will have to migrate to Bybita.eu. The official border date has not yet been clearly defined, but Bybit encourages you to pass as soon as possible to ensure the continuity of services and avoid any breaks in access to your account or funds.
Bybit EU – European highway for cryptocurrencies
The launch of Bybit EU is an important step towards professionalizing the cryptocurrency market in Europe. Thanks to compliance with Micar regulations, users can count on a high level of safety, transparency and legality of platform activities. If you are a user from EEA, this is the best time to start migrating at Bybit.eu and use modern cryptocurrency services in harmony with European law.
