Bybit, a prominent cryptocurrency exchange, has obtained a license to operate in Austria under the European Union's Markets in Crypto Assets (MiCA) framework, as stated on the Austrian regulator FMA's website. The introduction of MiCA regulations in Europe has prompted companies to strategically select a base country for their operations and expand services across the continent.
Notably, Austria serves as the MiCA hub for another crypto trading firm, Bitpanda, which also holds a license in Germany. Bybit, founded by Ben Zhou in 2018, has grown to become the second-largest exchange in terms of volume, according to CoinMarketCap, and is currently headquartered in Dubai after relocating from Singapore in 2022. The exchange faced a significant setback in February 2025 when it was hacked, resulting in the loss of $1.5 billion in assets, the largest recorded cryptocurrency theft.
Bybit has not provided an immediate comment on this development.