Bybit Splits Crypto and Payments Into Two Austrian Entities. Bybit.eu Will Run Both Under One Login
Bybit has split its crypto and payment services into two Austrian entities, streamlining operations under Bybit.eu with a single login.
Bybit is making strategic moves to enhance its operations in Europe with the recent split of its crypto and payment services into two Austrian entities. As of August 4, 2026, Bybit Payments GmbH has successfully obtained an electronic money institution (EMI) licence, allowing the company to operate alongside its existing MiCA-authorized crypto entity.
What Does This Mean for Bybit and Its Users?
This development means that Bybit will now manage two regulated entities: Bybit EU GmbH, which operates under the MiCA framework for cryptocurrency activities, and Bybit Payments GmbH, which is regulated under the EMI status for e-money and payment services. Both companies will maintain separate capital and safeguarding obligations but will link them through a single Bybit.eu account for user convenience.
Why the Separation Matters?
The split between Bybit's crypto and payment services is primarily a regulatory necessity rather than a branding strategy. Bybit EU GmbH has held MiCA authorisation since May 2025, covering aspects like crypto custody, exchange services, and client transfers. In contrast, Bybit Payments GmbH’s EMI licence introduces a new layer of regulation surrounding e-money and payment services, governed by the Payment Services Directive 2 (PSD2).
How Do the Two Licences Work Together?
Since MiCA and EMI fall under different EU regulations, Bybit cannot merely combine the two functions into a single entity. By splitting the businesses at a legal-entity level, Bybit demonstrates compliance with varying requirements that each licence brings. This separation allows them to meet both MiCA and EMI requirements simultaneously, elevating the company’s operational structure in Europe.
What Can We Expect from Bybit Payments?
Although Bybit Payments GmbH has acquired its EMI licence, the platform has yet to roll out the specific products covered under this authorisation. Future offerings may include person-to-person payments, strong customer authentication, open-banking capabilities, merchant payment solutions, and card products. “Maintaining a clear distinction between the two regulated entities is fundamental,” stated Bernhard Krick, managing director at Bybit Payments GmbH.
How is Bybit Positioning Itself Among Other Exchanges?
Bybit is not the only exchange to adopt this structure. Competitor Kraken has held an EMI authorisation for its Irish operations since 2023 and added a MiCA licence shortly thereafter. Meanwhile, Crypto.com took a different route, securing its EMI licence in Malta before obtaining MiCA authorisation in January 2025. These moves showcase a common trend in the industry—exchanges are working to disassociate their crypto and payment operations for regulatory compliance.
What’s Next for Bybit?
Currently, Bybit has not announced a date for when its new payment features will go live, leaving users eager for more details regarding product launches and the broader European rollout. The focus on building direct relationships with banks and payment institutions will further enhance Bybit’s capabilities. Georg Harer, the managing director for both entities, highlighted that the EMI licence is partially aimed at reducing reliance on third-party payment providers.
Key Takeaways
- Bybit splits its operations into two entities in Austria: Bybit Payments GmbH and Bybit EU GmbH.
- The separation allows compliance with different EU regulations under MiCA and EMI frameworks.
- Future Bybit payment products remain unlaunched but may include person-to-person payments and merchant solutions.
- Competitors like Kraken and Crypto.com follow similar regulatory pathways, showcasing a trend in the industry.
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