The largest cryptocurrency exchange is moving to Vienna!
The Chinese cryptocurrency exchange platform Bybit, which is the second largest cryptocurrency exchange in the world by trading volume, announced the opening of its headquarters in the European Economic Area (EWR) in the city of Wien (Vienna).
Bybit has obtained the European MiCAR license from the Austrian Financial Market Authority (FMA), allowing it to provide services to nearly 500 million people in 29 countries within the European Economic Area.
This expansion includes the establishment of an official headquarters in Vienna and the hiring of 100 experts specialized in this field. The MiCAR license represents a tightening of the regulations governing the cryptocurrency market and provides greater protection for investors in Europe.
With this license, Bybit is in a stronger position to compete with local platforms like Bitpanda, which currently dominates the Austrian market. Although Bybit already has a large user base in the unregulated European market, the new license will enable it to significantly expand its legal activities.
The company is managed by the Chinese owner and CEO Ben Zhou, while its global headquarters remains in Dubai.