Bybit Plans EU Super App With Banking and Crypto Trading

Cryptocurrency exchange Bybit is preparing to launch a regulated “super app” in Europe that combines traditional banking features with crypto trading, tokenized stocks and financial derivatives.

The Dubai-based exchange, founded in 2018 and serving more than 80 million users, has secured an electronic money institution (EMI) license from Austria’s Financial Market Authority, CEO and founder Ben Zhou told CoinDesk.

Bybit already holds a Markets in Crypto-Assets (MiCA) license in Austria, allowing it to operate across the European Union. Zhou said the company also expects to obtain a Markets in Financial Instruments Directive (MiFID) license within roughly two months.

Together, the licenses could enable Bybit to compete more directly with fintech platforms such as Revolut. The EMI authorization will allow customers to access personal accounts and IBANs, receive salaries, pay utility bills and make third-party or local transfers. Users would also have access to stablecoins and cryptocurrencies through the same platform.

Zhou said operating under MiCA alone has not been profitable for Bybit because of high compliance expenses and intense competition in Europe. Offering a broader range of regulated financial services is therefore central to the exchange’s strategy.

The anticipated MiFID license would significantly expand Bybit’s product lineup. According to Zhou, the authorization could allow the exchange to offer regulated derivatives and provide exposure to traditional assets, including U.S. stocks, gold, silver, commodities and oil.

Bybit could work with established financial providers such as Alpaca or Saxo Bank to give customers access to companies including Apple and Tesla. Contracts for difference could also become available under the expanded offering.

The exchange will meanwhile continue supporting tokenized equities through its partnership involving Kraken’s xStocks platform. Zhou emphasized that Bybit does not intend to build every financial product internally and will continue working with external partners.

By combining banking services, regulated crypto trading, traditional investments and tokenized assets, Bybit aims to establish an all-in-one financial platform for European customers while operating within the EU’s regulatory framework.