Crypto Exchange Bybit To Launch European Super App

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Cryptocurrency exchange Bybit plans to launch a new super app in Europe that will offer both a regular bank account and stock and crypto trading.

The privately held Dubai-based firm, which claims to have more than 80 million users worldwide, has been granted an electronic money institution license by European regulators.

That will enable Bybit, which also holds a Markets in Crypto Assets (MiCA) license in Austria, to launch the new super app for the European market.

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Bybit said that it aims to combine the offering of financial technology firms and online brokerages into one super app.

Going forward, Bybit plans to provide its European users with traditional bank accounts as well as the ability to trade derivatives, tokenized stocks, and digital assets such as Bitcoin (CRYPTO: $BTC).

Bybit has partnered with rival crypto exchange Kraken’s xStocks for tokenized equities. A launch date for the new super app has not been announced.

As a private company, Bybit’s stock does not trade on a public exchange.

Source: finance.yahoo.com