Bybit, recognized as one of the premier cryptocurrency trading platforms globally by volume, is preparing to launch a comprehensive “super app” across Europe that will deliver traditional banking functionalities alongside regulated derivatives and tokenized equities, expanding beyond its current spot cryptocurrency offerings.
The Dubai-headquartered organization, established in 2018 with a customer base exceeding 80 million, has secured an electronic money institution (EMI) permit via the Austrian Financial Market Authority (FMA), its European regulator, according to statements made by exchange co-founder and CEO Ben Zhou during a conversation with CoinDesk.
Zhou noted that Bybit, which already holds a Markets in Crypto Assets (MiCA) authorization in Austria granting market entry throughout the European Union, is also securing a Markets in Financial Instruments Directive (MiFID) permit, enabling the platform to deliver financial assets such as debt instruments and derivatives.
“With these three authorizations, we will become sort of like Revolut, combined with what Bybit currently delivers,” Zhou remarked in the interview. “And this operates entirely within regulatory compliance, which thrills me greatly because few other jurisdictions permit this approach.”
London-based Revolut, founded in 2015, currently maintains full banking permits in both the UK and EU while serving a global customer base exceeding 80 million people. The financial technology enterprise held a valuation approaching $115 billion as of July, based on reporting from the Wall Street Journal.
Zhou has previously acknowledged openly that possessing solely a MiCA permit remains insufficient for achieving profitability within Europe, driven by heavy regulatory overhead coupled with rival platforms delivering broader service arrays including derivatives. He stated that the EMI authorization will adequately support the core capabilities Bybit intends to integrate into its unified platform.
“Regarding the EU, reality dictates that multiple permits are necessary to remain competitive and build a financially viable enterprise,” Zhou explained. “Acquiring a MiCA authorization involves substantial expense. Frankly speaking, operating under the MiCA authorization for roughly a year now has not yielded a profit.”
Zhou added that fierce competition persists throughout the region from established financial applications like Revolut.
“Unless you possess all the advanced features and service categories, users will not migrate simply because you feature something labeled crypto,” he stated. “Consequently, regulatory demands and market competition are significant, yet what makes the EU particularly appealing is the ability to introduce a single compliant super app.”
“The EMI permits users to maintain personal bank accounts and execute third-party transactions,” Zhou mentioned. “Therefore, one can envision that eventually, Bybit will function more like a banking application where individuals can maintain an account complete with an IBAN, receive salary deposits, settle utility bills, execute domestic transfers, and additionally utilize stablecoins and various cryptocurrencies.”
Zhou indicated that with the integration of a MiFID permit expected in approximately two months, the platform will gain the capability to supply regulated derivatives.
“MiFID proves exceptionally robust, empowering platforms to handle any cryptocurrency operation alongside tangible equities like U.S. shares; we can integrate with providers such as Alpaca or Saxo Bank to supply direct stock access. Consequently, clients can maintain Apple and Tesla shares within their portfolios, and additionally trade contracts for difference alongside gold, silver, commodities, oil, and related assets,” Zhou explained.
Zhou pointed out that Bybit maintains a collaboration involving tokenized equities through crypto platform Kraken’s xStocks initiative, confirming that this partnership remains active.
“At Bybit, we do not attempt to construct every solution independently,” Zhou noted. “Regarding equities, we collaborate alongside external collaborators. Thus, Bybit Global continues as the primary partner for xStocks. Indeed, we cooperate with Kraken; we maintain relationships and communicate continuously.”>/p>
Originally published at https://www.coindesk.com/business/2026/09/10/crypto-exchange-giant-bybit-to-offer-european-super-app-with-stocks-derivatives.
