Bybit and OKX Expand Crypto Services in Europe Under MiCA
In a significant development for the cryptocurrency sector, Bybit and OKX have launched MiCA-compliant exchanges in the European Union. This expansion into Europe’s unified regulatory framework provides users with secure, regulated platforms for crypto transactions.
Regulatory Clarity Drives Exchange Growth
The introduction of Bybit.eu and OKX’s regulated platforms coincides with the implementation of the Markets in Crypto-Assets Regulation (MiCA) framework. Bybit’s Austria-based operations now hold a license covering 29 European Economic Area countries, while OKX has established a strategic presence in France.
User-Centric Features for European Markets
Both exchanges have tailored their offerings for European users:
- Bybit.eu provides multilingual support in English, Polish, Portuguese, and Spanish, with additional languages planned
- OKX offers euro trading pairs, staking products, trading bots, and localized customer support
MiCA’s Transformative Impact
Since its full implementation on December 30, 2024, MiCA has standardized crypto regulation across the EU. Its passporting mechanism enables licensed firms to operate throughout the EEA without additional approvals, making Europe an attractive jurisdiction for crypto services.
Europe’s Rising Crypto Influence
Recent milestones like the EU launch of the Global Dollar stablecoin and Bitvavo‘s MiCA license acquisition demonstrate Europe’s growing market influence. Konstantins Vasilenko of Paybis Europe reported a 70% increase in EU trading volumes following MiCA’s licensing window opening, reflecting strong market confidence in the regulatory framework.
