Bybit to hire 100 professionals in Vienna for EU expansion.
MiCA approval helps Bybit rebuild trust after $1.5B crypto hack.
Bybit, a global cryptocurrency exchange, has been granted a MiCA license by the Austrian Financial Market Authority (FMA). From early 2025, the new MiCA regulation from the European Union has required this approval for cryptocurrencies. The license gives Bybit permission to provide crypto-related services to customers in all 27 EU nations, using Austria as its main starting point in Europe.
Bybit to Compete with Bitpanda in Austria’s Crypto Market
Bybit announced this news through its official X account. According to the company, the license authorizes it to run across EEA countries under one set of rules. Consequently, Bybit can now cater to about 500 million customers throughout Europe. Getting the approval is a major step in Bybit’s plan to grow in regulated countries worldwide.
Before, Bybit was based in Dubai and is now operating its European presence out of Vienna, Austria. As a result, Bybit faces stiff competition from Bitpanda, another big crypto platform based in Austria. Even though Binance will now follow the same registration steps as Bitget in Malaysia, the competition between the two firms is likely to improve crypto technology and adoption in the country.
Ben Zhou, Bybit’s CEO, says that regulatory compliance is a top priority for the company. The MiCA certification confirms that Bybit is working toward adhering to global financial principles, according to the company. In addition, Zhou explained that the company is joining forces with regulators worldwide to help users feel secure using the platform.
Besides earning the license, Bybit plans to invest significant funds in Austria. The company announced that it will recruit more than 100 professionals in Vienna to assist with its European activities. Local employment is expected to go up and the move will further encourage Austria’s involvement in cryptocurrency and financial technology. It reveals that Bybit strives to serve European customers better with services designed for them.
MiCA Approval Gives Bybit New Life After Major Hack
MiCA is helping to ensure crypto users are properly protected and that things are done openly in the industry. Anti-money laundering, security with personal data and protection of consumer rights are key points in this regulation. Following these standards, the platform is hoping to gain back the trust of its users. In February 2025, the platform suffered from a security problem that took away $1.5 billion from its digital holdings. The theft was the biggest yet recorded with cryptocurrencies, and it had people talking about the security of the platform.
Since that time, the company has tried to fix its systems to better serve its customers once again. Many experts agree that the MiCA license will help settle doubts about Bybit and clearly prove its dedication to safety and regulation.
Mazurka Zeng, Bybit’s CEO in Europe, spoke about the opening as well. Bybit wants to help Austria’s thriving innovation scene by attracting skilled workers and collaborating with universities, Karen Wong said. Participating in the Blockchain for Good Alliance and collaborating with partners, the company will strive to make blockchain education accessible and support innovative initiatives.
Overall, this approval offers Bybit more than just regulatory advantages. Because of the MiCA license, the company is now bigger in Europe, improves its compliance record, and achieves the quality to compete worldwide in crypto.