Bybit aims to build a comprehensive European financial platform that integrates cryptocurrency, stoc

Core Highlights

Traditional banking functions will be launched soon to cope with fierce market competition. The exchange has been authorized by the Austrian MiCA to operate throughout the EU and is currently applying for MiFID II qualification to provide derivatives and traditional stock trading services.

Ben Zhou, CEO, foresees that the platform will operate similar to digital banking, with functions such as IBAN accounts, payroll and domestic transfers.

The exchange is seeking an Electronic Money Institution (EMI) license to supplement its MiCA and MiFID II applications to provide complete European financial services.

Once authorized by MiFID II, customers can hold shares of traditional companies such as Apple and Tesla as well as digital currencies in a unified account.

The platform continues to be the main partner for Kraken xStocks tokenized stock products.

Bybit integrates EMI and MiFID licenses to launch an EU "super app" covering stocks and derivatives.

Bybit, established by the Dubai headquarters in 2018, ranks among the top in global transaction volume and has more than 80 million users. CEO Ben Zhou said that the exchange has obtained an electronic money institution license issued by the Austrian Financial Markets Supervisory Authority (FMA) and will obtain a MiFID license within two months. The move aims to provide customers with an integrated European solution for cryptocurrency trading, equity holding and derivatives services through a single interface.

Source: NewsTongue (@NewsTongueX), tweet on September 10, 2026

Currently, the platform has been authorized by MiCA in Austria, giving it the right to operate in all EU countries. The company is submitting a MiFID II authorization application through subsidiary Bybit X GmbH. Once approved, the platform will be able to provide regulated derivative instruments such as futures and options and have direct access to traditional stock markets such as the U.S. stock market.

In an interview with CoinDesk, CEO Ben Zhou said his vision is to create a platform similar to Revolut but integrating cryptocurrency capabilities. "With these three licenses, we will become like Revolut, plus the services Bybit currently provides." He explained.

Revolut has comprehensive banking qualifications in the European Union and the UK. As of July, its user base was approximately 80 million and its valuation was close to US$115 billion.

Zhou once frankly stated that it is difficult to build a sustainable European business relying solely on MiCA regulations. Compliance costs are high and platforms face tremendous pressure from integrated financial service providers. "We've been running the MiCA license for about a year and it's not profitable at the moment," Zhou admitted."Unless you have all the complete features, customers won't move here just because you have the 'encryption' attribute."

Traditional banking functions will be launched soon

Electronic money institution licenses will enable the platform to provide customers with personal IBAN accounts, payroll deposit functions, utility payment options, and domestic transfer services. This constitutes the basic banking infrastructure that supports trading capabilities.

Zhou is expected to receive MiFID approval in about two months. Once authorized, the exchange plans to establish connections with partners such as Alpaca or Saxo Bank to facilitate direct stock trading.

Zhou summarized: "Customers can hold Apple and Tesla shares in their accounts, and then they can even trade CFDs, gold, silver, commodities, oil and all other financial products."

Responding to fierce market competition

The company entered a highly competitive market. Coinbase, Kraken and Bitstamp have all obtained or are actively seeking European authorizations under MiCA regulations. Binance maintains operations through multiple country registrations. OKX is also expanding its influence in Europe.

This platform approach is unique in that it simultaneously pursues MiCA, MiFID II and EMI licensing. Most cryptocurrency platforms are limited to compliance with MiCA regulations.

The exchange continues to cooperate with Kraken xStocks services to provide tokenized equity products. Zhou confirmed that the platform is xStocks 'most important partner globally.

Currently, European customers have access to the spot market and margin trading, with a leverage limit of 10 times. This leverage limit is in compliance with European investor protection regulations and is more stringent than the international version of the platform.

The MiFID II application was submitted in September 2025. Authorities have not yet announced an expected approval timetable.

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