Two major cryptocurrency exchanges, Bybit and OKX, have taken significant steps to strengthen their presence in Europe, launching fully compliant platforms under the EU’s Markets in Crypto-Assets Regulation (MiCA) framework.
On Wednesday, Bybit announced the debut of its new platform Bybit.eu, designed for users across the European Economic Area (EEA). The exchange now operates with a Crypto-Asset Service Provider (CASP) license, having established its Austria-based entity in late May. This license enables Bybit to provide regulated services in all 29 EEA member countries.
Similarly, OKX revealed the official launch of its centralized exchange in France, also under MiCA rules. Using the passporting mechanism provided by the new regulatory structure, the company can legally offer services across the entire bloc. Erald Ghoos, CEO of OKX Europe, emphasized France’s strategic importance, calling the launch a “key milestone” in their European rollout.
Tailored Services for European Users
Bybit.eu features multilingual support—initially in English, Polish, Portuguese, and Spanish—with plans to introduce German, French, Italian, and Romanian soon. The platform aggregates liquidity from several providers and includes advanced tools aimed at both individual traders and institutions.
OKX’s European platform includes euro-denominated trading pairs, staking options, and trading bots, along with local-language customer support. Ghoos noted the exchange is not only compliant with MiCA but also acts as a licensed custodian in the region. User assets are kept separate from company funds in accordance with MiCA rules, and the platform incorporates automated asset reconciliation procedures to enhance transparency.
MiCA: Reshaping the Crypto Landscape in Europe
The launches by Bybit and OKX follow the full implementation of MiCA on December 30, 2024. The regulation establishes a unified framework for crypto businesses across the EU, offering a single license that can be used to operate throughout the EEA without the need for country-specific approvals. This streamlined process is attracting more crypto companies to set up shop within the bloc, often in preference to less integrated markets like the UK.
Momentum Builds Across the EEA
The European crypto space has seen a surge in activity since the MiCA regime took effect. This week alone, the USDG stablecoin was introduced in the EU by Paxos, which claims full compliance with MiCA. Dutch exchange Bitvavo was also granted a MiCA license by the Netherlands’ financial regulator, enabling it to expand services across the EEA. Meanwhile, long-established exchange Kraken recently revealed plans to scale up its European operations after securing its own MiCA authorization.
Paybis co-founder Konstantins Vasilenko recently commented that the EU is setting the pace globally in the crypto sector. Comparing Europe’s progress to that of the United States, he noted:
“With the MiCA licensing window opening on January 1, 2025, we saw a 70% surge in EU trading volume that quarter—while trade count stayed stable. That signals bigger capital entering the market, driven by trust in regulatory clarity.”
As MiCA continues to reshape the regulatory environment, Europe is positioning itself as a central hub in the global digital asset ecosystem.
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